CAKE has been one of the weaker cryptos of the last year. However, CAKE has been a relatively good performing crypto over the last couple of weeks.

With CAKE seemingly bullish , it’s time to start looking at a potential bullish break out of the bearish channel in which CAKE has been trading for over a year.

With the overall crypto and stock markets showing signs of bearishness, I’m not yet convinced on a bullish break out. Ideally, we get strong bullish price action in the afore mentioned markets and a strong rally in CAKE to push the price through the top resistance of the channel.

To be continued. Happy trading!