$CAKE
Entry Zone:2.030 – 2.050
Targets
TP1: 2.100
TP2: 2.135
TP3: 2.160
Stop-Loss:1.990
Analysis
$CAKE recently experienced a sharp rejection from the 2.158 level, leading to a period of downward pressure. However, the price has found a local floor at the 2.014 support zone. We are currently seeing a "Rounded Bottom" formation on the 15m timeframe, with the price successfully reclaiming the MA(7) and MA(25) (yellow and pink lines).
The recent green candles indicate a shift in momentum as buyers begin to absorb the selling pressure near the psychological $2.00 level. The current move towards 2.056 suggests a trend reversal is attempting to form.
Outlook
As long as the price remains above the 2.014 support, the recovery structure is intact. A sustained break and hold above the MA(99) (purple line) near 2.066 would likely trigger a rapid continuation toward the previous highs of 2.134 – 2.158. A breakdown below 1.990 would invalidate this bullish setup.#BinanceAlphaAlert #MarketRebound #Cake $CAKE
