CAKE Technical Analysis Jan 24

Today’s short-term outlook and key levels to watch

Short-Term Market Outlook

CAKE is trading sideways at the $1.91 level as of January 24, 2026. The intraday range stayed within the 1.90-1.94 band, with a 24-hour change of -0.52%, slightly negative. Volume is at moderate levels around 8.25 million dollars, depicting a market focused on consolidation rather than sudden bursts. The short-term trend can be described as sideways; the price continues to stay below EMA20 ($1.94), which is a bearish signal, though indecision dominates the overall momentum. RSI at 39.89 is approaching oversold but not yet signaling a bottom. The MACD histogram shows a positive histogram with mild bullish divergence, while Supertrend remains bearish at the $1.99 resistance. Unless volatility increases in the next 24-48 hours, consolidation within a narrow band may continue. Scalp opportunities are limited for active traders, but breaks of key levels could trigger quick moves. Upside invalidation is a cross above $1.94 EMA, downside at a drop below $1.90.

Intraday Critical Levels

Nearby Support Zones

Immediate supports are positioned at tight levels: The strongest at $1.9133 (score 76/100), acting as a pivot near today’s low with quick bounce potential. Second support at $1.8883 (61/100), which could be tested quickly on a break. Deeper $1.8649 (61/100) could serve as a stop-loss point for intraday scalps. A close below these levels could turn momentum downward and bring the $1.78 target into play. For risk management, limit position size to 1-2% of capital.

Nearby Resistance Zones

Resistance at $1.9271 (92/100) is the most critical, this high-scoring level near EMA20 could accelerate momentum on a break. Upper intermediate resistance at $1.9767 (67/100), $2.0205 (78/100) as short-term upside target. These levels align with Supertrend resistance, so rejection probability is high. Volume increase is required for break confirmation; otherwise, fakeout risk exists. Scalp traders can go long above 1.9271 with stop at 1.9133, invalidation should be quick.

Momentum and Speed Analysis

Short-term momentum gives mixed signals: RSI 39.89 in neutral-bearish territory but with divergence potential, buying pressure may increase as it approaches oversold. MACD’s positive histogram signals bullish momentum, though signal line crossover is awaited. Supertrend is bearish at $1.99 resistance, limiting upside moves. Speed analysis on the 1-hour chart shows low volatility (around 1.5%), sideways continuation likely. In MTF, there are 11 strong levels on 1D/3D/1W (support/resistance balance slightly favors resistance: 1D 2S/1R, 3D 1S/3R, 1W 2S/3R). In the next 24 hours, RSI above 50 or MACD crossover would be triggers; volume above 10M$ required for speed increase. In high-risk short-term trading, target 1:2 RR in every setup and monitor news flow.

Short-Term Scenarios

Upside Scenario

Bullish scenario: Close above $1.9271 resistance (with volume increase), testing EMA20 and pushing to $1.9767. Target $2.0205, invalidation below $1.9133. Triggers: RSI 50+, BTC stable. In this case, intraday longs entry at $1.91, stop $1.90, TP $1.98. Duration: 12-24 hours, scalp zone 1.92-1.95.

Downside Scenario

Bearish scenario: Break below $1.9133 support, quick drop to $1.8883. Target $1.8649, deeper $1.7810. Triggers: BTC below 88.9k or volume drop. Short entry at $1.91, stop $1.93, TP $1.88. Invalidation above $1.9271. Duration: 6-12 hours, high volatility risk.

Bitcoin Correlation

CAKE is highly correlated with BTC (0.85+); BTC sideways at $89,392 level, 24h -0.09%. BTC supports at $88,935/$87,635/$86,420 critical, resistances $89,684/$90,775/$92,100. With BTC Supertrend bearish, caution in altcoins: BTC break below 88.9k could pressure CAKE to $1.88. Conversely, BTC above 90k supports CAKE upside. Monitor correlation in CAKE Spot Analysis and CAKE Futures Analysis. Short-term, rising BTC dominance weakens CAKE.

Daily Summary and Monitoring Points

Today’s focus: $1.9133 support and $1.9271 resistance. Follow breaks with quick invalidation (5-15min close). Monitor: RSI divergence, MACD crossover, BTC 89k movement, volume spike. No news, sideways likely to continue. Short-term trades are high risk; do not neglect capital management, max 2% risk/position. This analysis, prepared with Chief Analyst Devrim Cacal’s methodology, prioritizes MTF levels. Use links for spot/futures.