CAKE Technical Analysis Jan 29

CAKE under pressure at 1.89$. Nearby support 1.8841$ critical, could accelerate on downside break. Upside requires close above 1.9020$.

Short-Term Market Outlook

CAKE is trading at 1.89$ as of January 29, 2026, experiencing a negative day with a %1.87 drop in the last 24 hours. The intraday range is squeezed between 1.87$-1.94$, while volume remained at a moderate level of 13.32M$. Short-term trend is downward; price is positioned below EMA20 (1.90$), signaling bearish. RSI at 44.09 is in neutral territory but leaning downward, MACD histogram is negative confirming bearish momentum. Supertrend indicator gives bearish signal, with nearby resistance at 1.95$. In higher timeframes (1D/3D/1W), 11 strong levels were identified: 3 supports/4 resistances on 1D, 1 support/2 resistances on 3D, and 2 supports/0 resistances on 1W. Overall MTF context supports short-term downward pressure. Focus for the next 24-48 hours is on 1.8841$ support and 1.9020$ resistance. News flow is calm, so technical levels are in the spotlight. Intraday volatility expected for active traders, but BTC’s bearish Supertrend requires caution in altcoins. Price dropping below 1.8841$ could accelerate downside, while testing 1.9020$ above is key for momentum shift.

Intraday Critical Levels

Nearby Support Zones

Instant support zone stands out at 1.8841$ (score: 91/100). This level is just above recent intraday lows (1.87$) and forms a strong base. A break could trigger a rapid drop, with next target approaching 1.80$. Broader supports from MTF show 1.7049$ downside target, but for today, monitor 1.8841$ as invalidation point. For scalping, stop-loss below this level is recommended due to quick rebound risk.

Nearby Resistance Zones

Nearby resistances at 1.9020$ (score: 75/100), followed by 1.9458$ (score: 65/100) and 1.9887$ (score: 62/100). 1.9020$ is near EMA20 and first test point. Hourly close above this level activates upside scenario. 1.9458$ overlaps with Supertrend resistance, a critical barrier for momentum. 1.9887$ is short-term upside target, but challenging due to BTC correlation.

Momentum and Speed Analysis

Short-term momentum is bearish; MACD negative histogram confirms downside, RSI at 44 stable but could accelerate below 40. Supertrend bearish showing 1.95$ resistance. Volume aligns with downside, volume increase required for upside moves. Intraday speed analysis: Consolidation if holds 1.8841$, downside speed could reach %2-3 on break. Rejection at 1.9020$ likely above due to strong EMA20 pressure. Bearish structure dominant on 4H chart, quick scalp opportunities at support tests. Risk: Tight stops mandatory for false breaks, volatility high.

Short-Term Scenarios

Upside Scenario

Activates with hourly close above 1.9020$. Targets sequentially 1.9458$ and 1.9887$. Trigger: Voluminous breakout and RSI 50+. Invalidation: Drop below 1.8841$. This scenario probable if BTC stable (%1+ rise), 1-2% return potential for swing traders. Quick target taking and trailing stop recommended.

Downside Scenario

Triggers with close below 1.8841$. First target intraday low 1.87$, then near 1.80$. Accelerates if BTC drops below 88,109$. Invalidation: Rebound above 1.9020$. Short opportunity for scalpers, expect %2-4 downside. High risk: Sudden BTC rebound could spoil lows.

Bitcoin Correlation

BTC at 88,336$ with -%1.02 drop in downtrend, Supertrend bearish. CAKE highly correlated to BTC (altcoin average %0.8+), CAKE 1.8841$ break accelerates if BTC loses 88,109$ support. BTC resistances 88,618$-90,573$, breathing room for CAKE. BTC dominance rise deepens altcoin pressure; traders watch BTC below 87,459$, triggers CAKE downside. Follow links for CAKE Spot Analysis and CAKE Futures Analysis.

Daily Summary and Monitoring Points

Today’s watches: 1.8841$ support (main invalidation), 1.9020$ resistance (breakout trigger). BTC 88,109$-88,618$ range critical. Volume increase is momentum changer. Short-term trading high risk; position size not exceed %1-2, use tight stops. Scenarios valid for 24-48 hours, follow news flow. Risk management priority: Do not risk more than %5 of capital. For intraday traders scalp zones at supports/resistances, for swing wait for closes.