CAKE Technical Analysis Feb 14

CAKE has shown a strong 7.29% rise in the last 24 hours reaching the $1.34 level, but it remains under the dominance of the general downtrend and is trading in the oversold region with RSI at 30.83; this situation enables both a strong rebound (upward movement) and continued decline scenarios.

Current Market Situation

CAKE is trading at the current $1.34 level and recorded a 7.29% rise in the $1.23-$1.34 range over the last 24 hours, but volume remained limited at $18.42M. Technical indicators show RSI at 30.83 in the oversold region, indicating short-term rebound potential. MACD gives a bearish signal with negative histogram, price is below EMA20 ($1.49) and Supertrend is in bearish mode, with $1.61 resistance level prominent. In multi-timeframe (MTF) analysis, 11 strong levels were detected in 1D, 3D, and 1W timeframes: 1D has 2 supports/4 resistances, 3D has 2S/1R, 1W has 2S/3R distribution showing resistances dominate the overall picture. Critical supports $1.1880 (score 73/100) and $1.3020 (62/100), resistances $1.3710 (76/100), $1.4572 (64/100) and $2.1824 (68/100). This structure forms a critical juncture where traders should be prepared for both directions.

Scenario 1: Bullish Scenario

How Does This Scenario Unfold?

For the bullish scenario, the $1.3710 resistance (score 76/100) must first be clearly broken with a close above it; this level also serves as the first confirmation of a short-term trend change. Then, movement toward $1.4572 is expected with volume increase, RSI correction toward 50, and MACD histogram approaching zero confirming positive momentum. Supertrend turning bullish (above $1.61) and breaking EMA20 ($1.49) signals a medium-term uptrend. In MTF, clearing 1D resistances strengthens the scenario as 3D and 1W supports come into play. If BTC tests the $70,205 resistance, an altcoin rally could be triggered, with CAKE likely benefiting from oversold conditions.

Target Levels

First target $1.4572, second $1.61 Supertrend resistance, then $1.9415 main bullish target (score 37/100). In more aggressive moves, it could extend to $2.1824, but volume confirmation should be sought at each step. This scenario is invalidated by loss of $1.3020 support, at which point the bearish side activates.

Scenario 2: Bearish Scenario

Risk Factors

The bearish scenario is triggered by breaking the $1.3020 support (score 62/100) with a close below it; this level is the main test point of the recent rebound. If RSI does not exit oversold and MACD shows bearish divergence, momentum turns downward. With increasing volume, $1.1880 (score 73/100) becomes the critical support; its loss accelerates the general downtrend. Supertrend remaining bearish and distancing from EMA20 reinforces the dominance of 1W resistances in MTF. If BTC breaks the $69,076 support, correlation in altcoins raises sharp decline risk for CAKE, with dominance increase crushing alts.

Protection Levels

First protection $1.1880, on break $0.7504 main bearish target (score 22/100), deeper at $1.00 psychological level. Stop-losses can be positioned below $1.3020, risk/reward ratio calculated according to targets. This scenario is invalidated by a close above $1.3710, activating the bullish side.

Which Scenario to Watch?

Decision point between $1.3710 resistance and $1.3020 support; a volume-backed close above $1.3710 triggers bullish, below $1.3020 triggers bearish. RSI crossing 50 indicates momentum shift, MACD zero line crossovers give confirmation signals. Volume explosion (above 2x current $18M) determines direction. Daily closes are critical, seek MTF alignment. Follow detailed data on CAKE spot market page and CAKE futures trading.

Bitcoin Correlation

BTC at $70,433 with +4.86% in downtrend, Supertrend bearish; breaks of $69,076 and $65,415 supports pose 10-20% additional decline risk for altcoins like CAKE due to correlation. Conversely, if BTC breaks $70,205 resistance ($75,166 target), CAKE bullish scenario strengthens but requires dominance decline. If BTC is near deep $60,000 support, general caution mode prevails for alts, limiting CAKE’s independent movement.

Conclusion and Monitoring Notes

CAKE at critical juncture: Oversold conditions offer rebound hope but downtrend and resistances dominate. Watchlist: $1.3710/$1.3020 breaks, RSI/MACD crossovers, volume increase, BTC $70k movements. Traders should plan for both scenarios, wait for MTF confirmation. Prioritize risk management, market is volatile.