CAKE Technical Analysis Jan 28

CAKE is trading at $1.92; it has stabilized just below the primary support at $1.9031, with potential to move toward short-term resistance at $1.9325. The downtrend dominates, but RSI in the neutral zone could signal a recovery.

Current Price Position and Critical Levels

CAKE is positioned at $1.92 with a slight 0.73% increase over the last 24 hours. The price range is squeezed between $1.88-$1.93, and volume remained at a moderate $12.67M. The overall trend is downward; price is trading below EMA20 ($1.96) and the Supertrend indicator is giving a bear signal ($2.15 resistance). A total of 11 strong levels were identified across 1D, 3D, and 1W timeframes: 2 supports/2 resistances on 1D, 1 support/3 resistances on 3D, 2 supports/2 resistances confluence on 1W. This MTF alignment strengthens the levels. RSI at 44.92 is not approaching oversold territory, showing neutral momentum. Price is seeking a reaction from the $1.9031 support block after the recent down wave; a break below here could accelerate toward $1.7660. Above, $1.9325 is a strong liquidity accumulation area from an order block off recent highs.

Support Levels: Buyer Blocks

Primary Support

$1.9031 (Strength Score: 81/100) – This level stands out as CAKE’s most critical buyer zone. Why? On the 1D timeframe, it showed strong rebound (price rejection) in the last 3 tests; buyers entered with volume increases each time. On the 3D chart, there’s perfect confluence with EMA50 (around $1.90), an order block creating excess demand in the supply-demand balance. It also aligns with the Fibonacci 0.618 retracement on 1W. Historically, it has been tested 4 times since the December 2025 lows and held successfully 80% of the time. According to volume profile, there’s no heavy stop-loss accumulation here; on the contrary, it’s ideal for liquidity grabs. When price touches here, a probable W-pattern formation could complete, initiating rotation to $1.9325.

Secondary Support and Stop Levels

$1.7660 (Strength Score: 60/100) – Defined as secondary support by low-volume swing lows on 1D and 1W timeframes. It shows confluence with EMA200 ($1.77) and created strong buying pressure twice in the past (e.g., before the November 2025 rally). However, its lower score stems from weak volume support; a break could lead to a downside target of $1.4434 (score 22/100). This should be used as an invalidation level – a close below $1.7660 shifts to the bearish scenario toward $1.44, with an R/R ratio of 1:2.5. Watch below $1.75 for stop-losses; liquidity hunting could intensify here.

Resistance Levels: Seller Blocks

Near-Term Resistances

$1.9325 (Strength Score: 67/100) – The first short-term hurdle; this level overlapping the 24-hour high ($1.93) functions as the latest order block (seller block) on 1D. Why important? Rejected 3 times in the last 5 days, with sellers dominating via volume spikes each time. Confluence increases with the EMA20 ($1.96) approach, but Supertrend $2.15 resistance is weighing down. A close above $1.94 is required for breakout; otherwise, fakeout risk is high. Volume delta is negative, meaning seller liquidity is pooling here.

Main Resistance and Targets

$2.0198 (Strength Score: 66/100) – Main resistance; represents a strong supply zone on the 3D timeframe. Defined by a breaker block from early January 2026 peaks, aligned with Fibonacci 0.382 extension. On 1W, it’s the upper band of the horizontal channel ($2.02). Historical tests: Approached 6 times, rejected 70% in 4 of them. Upside target $2.3590 (score 26/100), reaching here provides R/R 1:3 but BTC correlation is critical. Volume increase of +50% is required for breakout confirmation; otherwise, pullback to $1.90 is likely.

Liquidity Map and Big Players

On the CAKE liquidity map, stop hunting potential is high below $1.9031 – big players (whales) could target buy-side liquidity here. The $1.9325-$2.0198 range is a sell-side liquidity pool filled with short stops accumulated in the recent drop. Order flow analysis: Imbalances cleared between $1.88-$1.93 on 1D, now testing the $1.90 block. Big players are likely to sweep $1.7660 to open long positions; above $2.02 is a major distribution zone. Volume footprints show delta divergence around $1.92 – hidden buying signal. MTF 11-level confluence increases manipulation risk; fair value gaps between $1.85-$1.88 await closure.

Bitcoin Correlation

BTC at $89,305 with 0.68% rise in downtrend; Supertrend giving bear signal. CAKE correlates 0.85% with BTC – if BTC breaks $89,180 support, CAKE follows to $1.7660. If BTC tests resistances $89,567-$91,310, CAKE’s $1.9325 breakout chance increases. If BTC dominance rises, altcoins under pressure; BTC $85,998 support provides $1.90 protection for CAKE. Watch: BTC close below $89k triggers CAKE downside cascade.

Trading Plan and Level-Based Strategy

Level-based outlook: Hold above $1.9031 > $1.9325 breakout targeting $2.0198 (R/R 1:2). If breakout fails, short below $1.90 targeting $1.7660. Invalidation: Below $1.7660 ($1.44 major bear). Volume + BTC stability required for upside scenario. For spot, check CAKE Spot Analysis; for futures, CAKE Futures Analysis. This outlook is price action based; market is dynamic.