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#CAKE5S ✅✅✅
The chart shows a cup and handle formation. After a long downtrend, the price has formed a rounded bottom (the cup) followed by a short pullback (the handle). Currently, the price is trading near the neckline area (around 0.13).
In classical technical analysis, this pattern suggests that:
👉 If the neckline is broken to the upside, the probability of a continued upward move increases.
👉 The target is usually measured by the depth of the cup (indicated by the blue line).
Summary:
• Pattern type: Cup and Handle (bullish pattern)
• Key resistance: Around 0.13
• Potential target: Around 0.18
• The MACD indicator also shows a positive trend, supporting the bullish scenario.
Short comment: The pattern is nearly complete; a breakout above resistance could trigger a strong upward movement.