CAKE – Ready for Continuation After a Perfect Breakout Retest 🚀

[m_c_jacob]

After the low from April, which aligned almost perfectly with the 2023 bottom, CAKE has shown remarkably constructive price action, steadily forming higher lows and repeatedly pressing against the $3 resistance zone.

Last week, the price finally broke above this major resistance and, in a textbook technical fashion, came back to retest the breakout level before rebounding strongly — confirming buyer commitment.

At the moment, CAKE trades around $3.5, holding well above the former resistance and showing signs of a potential upside continuation.

Key Levels & Outlook

Support: $3.0 (former resistance, now key support)

Intermediate target: $5.0

Extended target: $10.0 (if momentum and broader market sentiment remain strong)

Trading Plan

My preferred strategy is to buy dips against the $3 level, aiming for $5 as a soft target, while keeping a runner for a potential test of $10 if the bullish momentum accelerates.

CAKE has proven resilience — now it’s time to see if it can turn this constructive structure into a sustained breakout.

[m_c_jacob]

cake started to pump as expected
If we clear this resistance, 10 should be the next stop