🥞 CAKE’s Uptrend: Real Deal or Just Another Flippy Flop? 🥞

by

Oh, the Whimsical World of CAKE!

Is PancakeSwap trapped in a never-ending waltz of ranges?

Since the frosty days of January, CAKE has been prancing about in a range, like a nose twitching at a buffet, yet never quite committing. Breakouts, you say? Ah, those fleeting moments of glory, like a firework that fizzles before it shines. Late July’s attempt was but a mirage, a trick of the light, leaving us all with a mouthful of ashes. 🥴

Could this breakout be another tragicomic farce?

If the market decides to don its bearish fur coat next week, and BTC and its altcoin cousins start their wailing chorus of sell-offs, poor CAKE might find itself tumbling back below the $2.88 liquidity cluster, like a jester slipping on a banana peel. 🍌

Ah, PancakeSwap [CAKE], how you began the weekend with such zest! A 13.34% rally on the 20th of September, you say? But alas, the bulls, those fickle creatures, could not hold their ground. Sunday’s trading revealed their true nature-a 2.8% dip, from $3.068 to $2.982. Such drama! Such folly! 😩

The technical indicators, oh so bullish, yet they whisper: “Unless the $2.91-$2.95 zone is flipped to support, Monday might dawn with a bearish yawn for PancakeSwap.” 🌧️

The CAKE Range Breakout – A Tale of Hope and Despair

Since January, CAKE has danced within a range, from $1.37 to $2.94, like a prisoner in a gilded cage. The recent breakout, a daring escape, pushed prices above the range highs, but oh, how it mirrored the late July fiasco! That breakout, a failure so grand, sent prices sinking to $2.4 in the weeks that followed. A tragedy, indeed! 🎭

Thus, the $2.91-$2.95 area stands as a pivotal stage, where the next uptrend will either rise like a phoenix or crumble like a stale pancake. The CMF, at +0.18, and the A/D indicator’s slight uptick, they sing of increased demand and capital inflows. Even the Awesome Oscillator formed a bullish crossover, a fleeting moment of hope. 🌟

Zooming in, like a detective with a magnifying glass, the 4-hour chart reveals the Fixed Range Volume Profile, highlighting $2.92 as the Value Area High, a critical S/R level. If CAKE can cling to this level, its chances of an uptrend might yet flourish. But alas, the A/D indicator dips, and the CMF, at -0.06, screams of selling pressure. Will CAKE be forced back into its range, like a misbehaving child to its room? 🧐

And then, the liquidation heatmap, that harbinger of doom, points to $2.88 as a magnetic zone for CAKE. Over the next few days, it is highly probable that CAKE will fall to this level, like a leaf drawn to the ground. Whether the bears will drag it lower, or the bulls will muster a recovery, depends on the whims of market sentiment and the strength of demand for PancakeSwap tokens. A true Gogol-esque drama, is it not? 🎭

Read More

2025-09-21 16:10