CAKE drops 5.33% to $2.49, tests support at $2.41
- —CAKE slid 5.33% to $2.49 from an open of $2.63, with an intraday low of $2.46
- —Daily volume of $43.66 million is 38.4% below the 30-day average
- —The SMA-30 at $2.41 is the key support for the medium-term recovery thesis
- —RSI at 53 and a negative MACD histogram point to weakening momentum
Why it matters: Holding $2.41 keeps CAKE's medium-term uptrend intact; a break below opens the door to the SMA-50 at $2.11.
Source: DiarioBitcoin