CAKE – Ready for Continuation After a Perfect Breakout Retest

2 days ago

After the low from April, which aligned almost perfectly with the 2023 bottom, CAKE has shown remarkably constructive price action, steadily forming higher lows and repeatedly pressing against the $3 resistance zone.

Last week, the price finally broke above this major resistance and, in a textbook technical fashion, came back to retest the breakout level before rebounding strongly — confirming buyer commitment.

At the moment, CAKE trades around $3.5, holding well above the former resistance and showing signs of a potential upside continuation.
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Key Levels & Outlook
• Support: $3.0 (former resistance, now key support)
• Intermediate target: $5.0
• Extended target: $10.0 (if momentum and broader market sentiment remain strong)
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Trading Plan
My preferred strategy is to buy dips against the $3 level, aiming for $5 as a soft target, while keeping a runner for a potential test of $10 if the bullish momentum accelerates.
CAKE has proven resilience — now it’s time to see if it can turn this constructive structure into a sustained breakout.

21 hours ago

Trade active

#cake started to pump as expected
If we clear this resistance, 10 should be the next stop