#PIOnBinanceYesOrNo CAKE/USDT 🍰
### **Market Overview:**
- **Current Price:** $2.521
- **24H High:** $2.730
- **24H Low:** $2.443
- **Price Change:** -5.30% (bearish in the last 24 hours)
- **Volume:** Increased activity, with recent green volume spikes.
### **Indicators & Trend Analysis:**
- **MA60 (Moving Average 60):** 2.502 (Price is slightly above this level, suggesting short-term bullish momentum)
- **MA5 & MA10:** Shorter moving averages indicate some recent recovery.
- **EMA Analysis:**
- **Today:** -1.56% (bearish sentiment)
- **7 Days:** +29.96% (strong recent uptrend)
- **30 Days:** +7.51% (moderate growth)
- **90 & 180 Days:** +34.83% and +38.08% (suggesting mid-term bullish trend)
- **1 Year:** -9.29% (long-term downtrend still visible)
### **Trade Signal Assessment:**
- **Bullish Signs:**
- Price is rebounding above MA60.
- Volume is increasing, suggesting momentum.
- Recent uptrend in short-term EMAs.
- **Bearish Risks:**
- High volatility with sharp price swings.
- Short-term retracement possible after a pump.
- Price still within a resistance zone.
### **Trade Setup:**
#### **Long Position (If bullish continuation)**
- **Entry:** $2.50 - $2.52 (Buy near MA60 for confirmation)
- **Take Profit (TP):**
- TP1: $2.60 (Short-term resistance)
- TP2: $2.73 (Recent high)
- TP3: $2.85 (Next resistance level)
- **Stop Loss (SL):** $2.45 (Below 24H low to protect downside)
#### **Short Position (If price fails to break resistance)**
- **Entry:** $2.53 - $2.55 (Sell near resistance)
- **Take Profit (TP):**
- TP1: $2.48 (Support level)
- TP2: $2.44 (Recent low)
- TP3: $2.35 (Deeper retracement)
- **Stop Loss (SL):** $2.57 (Above recent highs to minimize loss)
### **Conclusion:**
- If CAKE holds above MA60 and breaks resistance, a long position is preferred.
- If CAKE struggles to break $2.55, a short position may offer better risk-reward.
- Keep an eye on volume and confirmation candles for better entry timing.
#BinanceAlphaAlert #FTXrepayment $CAKE
