CAKE rises 6% to $2.34 on volume 30% above average
- —CAKE trades at $2.34, up 6.08% in 24 hours and 64.17% over 30 days
- —Volume of $62.29 million is 29.76% above the 30-day average
- —RSI at 73.3 and stochastic at 88.6 indicate overbought conditions
- —36 consecutive months of supply reduction, with over 2 million CAKE burned in August
Why it matters: The rally is confirmed by volume, but overbought conditions raise the risk of a correction to support at $2.28.
Source: DiarioBitcoin