SasanSeifi 💁♂Potential for Significant Growth in the Long TermAs you can see in the chart, the price of CAKE has experienced significant growth after a period of decline and volatility. The price bounced back from the $1 support zone and has since experienced another minor increase after a pullback to the $2.50 demand level. The price is currently trading at $3.20.
By examining the behavior of candles in the long-term time frame, we can expect the following for the future of this currency:
If the $2.50 price range is maintained, we can expect further growth to the $4.50/5 liquidity zone and a new high above $4 (HIGH).
The above image shows the possible long-term trend of CAKE and the desired targets. This trend indicates the significant growth potential of this currency in the long term.
The important support zones are $2.50 and $1.70.
This is not financial advice. Always do your research before making any investment decisions.
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