$CAKE BUY ALERT: Oversold & Ready to Bounce?
$CAKE (PancakeSwap) is currently flashing a major oversold signal on the daily charts! After a period of consolidation, the price is holding firm at the $1.30 support zone—a level that has historically triggered strong relief rallies.
📊 Technical Breakdown:
Support Base: CAKE is defending the $1.29–$1.31 demand band with high conviction. As long as this floor holds, the risk-to-reward ratio for a long position is extremely attractive.
Deflationary Edge: With the recent reduction in max supply to 400M and consistent weekly burns, CAKE is becoming increasingly scarce. We are seeing "Smart Money" accumulate at these lower levels.
Momentum: The RSI is hovering near the oversold boundary, suggesting that the selling pressure is exhausted and a "short squeeze" toward $1.36+ is highly probable.
THE TRADE SETUP (LONG)
Entry Zone: $1.3000 – $1.3150 (Buying the demand zone)
Stop Loss (SL): $1.0086 (Macro structural protection)
Take Profit (TP): $1.3680 (Immediate Resistance)
🔥 Pro-Trader Insight: CAKE is the king of BSC DeFi. If the market sees a minor recovery, CAKE is often the first to lead the bounce. Are you grabbing this dip, or waiting for $1.40 confirmation?
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