Positive Trend Appears on CAKE Charts as Market Cap Sees Significant Recovery — Is a Rally on the Horizon?

Market Activity and Resistance: CAKE is approaching significant resistance after defending a compressed structure, with traders observing increased volume and potential for upward movement towards 3.00, supported by a demand zone between 2.00 and 2.15.

Short-Term Outlook and Breakout Attempts: A descending wedge pattern on the 4-hour chart indicates a possible 50–60% price move if a breakout occurs, with sustained buying needed to overcome resistance and avoid a return to support levels.

Daily Structure and Key Levels: CAKE's daily chart shows a structure holding near 2.326, with bullish potential if it breaks above 2.375, while a failure to defend key levels could lead to a drop towards 1.50–1.60.

Volume and Market Cap Dynamics: Recent trading saw short-term volume exceed 30M USDT, contributing to a market cap swing from 680M to around 850M, indicating renewed market engagement and active buying pressure.