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Summary
• Price tested key resistance around 2.26–2.28 before consolidating near 2.255.
• Bullish momentum flagged by strong volume surges into 2.276 high but failed to hold.
• RSI remains neutral with no clear overbought/oversold signals, indicating balanced pressure.
• Volatility dipped in afternoon ET after midday expansion, hinting at potential consolidation.
• 5-minute MA crossovers suggest short-term bearish bias following failed breakout.
PancakeSwap/Tether (CAKEUSDT) opened at 2.198, hit a high of 2.284, and closed at 2.257 by 12:00 ET. Total volume reached 1,826,517.41, with a turnover of $4,080,142.43. Price action revealed a bullish attempt into the 2.26–2.28 resistance area, which stalled under selling pressure.
Structure & Formations
Price action highlighted a failed bullish breakout above 2.275, with a long upper shadow on the 5-minute candle at 06:15 ET suggesting rejection. A bullish engulfing pattern was visible near 2.24–2.25 around 09:30–09:45 ET, followed by a bearish harami at 15:30–16:00 ET, signaling potential indecision. Key support levels appear to be forming around 2.25 and 2.235, with resistance near 2.275–2.285.
Moving Averages
On the 5-minute chart, the 20-period MA crossed below the 50-period MA midday, signaling short-term bearish momentum. Daily 50/100/200 MA alignment suggests no immediate directional bias, with price hovering in a narrow range between the 50 and 200-day averages, indicating a consolidation phase.
MACD & RSI
MACD showed divergence during the attempted push to 2.28, with the histogram peaking at 06:15 ET but declining thereafter.

Bollinger Bands
Volatility expanded around 04:00–06:00 ET before contracting in the afternoon, with price hovering near the midline of the bands for much of the session. This pattern indicates a potential period of consolidation ahead, with a possible breakout or breakdown likely before the next major move.
Volume & Turnover
Turnover spiked during the push to 2.28 (05:00–06:30 ET), with large notional trades pushing price higher before reversing. However, volume declined sharply after 15:30 ET, indicating reduced conviction. A divergence between volume and price during the 15:00–16:00 ET sell-off could indicate weak bearish follow-through.
Fibonacci Retracements
Fibonacci levels on the 5-minute swing from 2.205 to 2.284 showed resistance forming at 61.8% (~2.27), which coincided with the 06:15 ET high. On the daily chart, the 38.2% level (~2.24) and 61.8% level (~2.21) are key to watch for continued support or breakdown.
Looking ahead, the next 24 hours could see renewed tests of the 2.27–2.28 resistance range, with potential for a breakout or a pullback to 2.24–2.25 support. Investors should remain cautious of divergence signals and watch for volume confirmation on any directional move.
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