PancakeSwap Holds Strong Support, Eyes 18% Rally Toward $3.40Hello✌️
Let’s analyze Pancake Swap’s price action both technically and fundamentally 📈.
🔍Fundamental analysis:
Altcoin Season Index jumped 39% yearly, with CAKE up 82%, but BTC dominance stays high at 59.19%, holding altcoins back. 📈
📊Technical analysis:
BINANCE:CAKEUSDT is holding key
Related pairs
#CAKE/USDT : Trying to break horizontal resistance#CAKE
The price is moving within an ascending channel on the 1-hour frame, adhering well to it, and is on track to break it strongly upwards and retest it.
We have support from the lower boundary of the ascending channel, at 2.58.
We have a downtrend on the RSI indicator that is about to break an
Keep buying a big piece of $CAKE!This chart is just beautiful. It has everything you want for a solid consolidation:
Bullish structure
Consistent tests of highs
Flipping support/resistance levels within the range
Holding above previous yearly swing lows
Monthly trend is active and aligned with time@mode — can’t ask for more.
CAKEUSDT 1D#CAKE broke above the ascending triangle resistance, but due to Bitcoin's drop, it pulled back inside the triangle.
📌 If you're looking to enter, consider placing a buy order near the support level at $2.439.
In case of a bounce and a breakout above the triangle resistance, the upside targets are:
From Rejections to Breakout? CAKE Faces Key TrendlineNASDAQ:CAKE has been stuck in a long-term downtrend, constantly getting rejected from that falling red trendline.
But things are starting to shift...
After bouncing off the major support zone, price is once again pushing toward that trendline, and this time, momentum looks stronger.
If CAKE can
Pancake (CAKE): Breakdown From Bullish Support Trend | BEARISHWell, we had a nice ride since last time, where price reached the pressure point and now is showing downside dominance, where sellers are dominating and resulting in a breakdown from the local support trend.
We are looking for further sell-side dominance and possibly a good ride to lower zones her
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Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.
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Frequently Asked Questions
The current price of PancakeSwap / Tether US (CAKE) is 2.8833 USDT — it has risen 3.51% in the past 24 hours. Try placing this info into the context by checking out what coins are also gaining and losing at the moment and seeing CAKE price chart.
PancakeSwap / Tether US price has risen by 11.84% over the last week, its month performance shows a 21.32% increase, and as for the last year, PancakeSwap / Tether US has increased by 79.99%. See more dynamics on CAKE price chart.
Keep track of coins' changes with our Crypto Coins Heatmap.
Keep track of coins' changes with our Crypto Coins Heatmap.
PancakeSwap / Tether US (CAKE) reached its highest price on Nov 8, 2022 — it amounted to 5.4041 USDT. Find more insights on the CAKE price chart.
See the list of crypto gainers and choose what best fits your strategy.
See the list of crypto gainers and choose what best fits your strategy.
PancakeSwap / Tether US (CAKE) reached the lowest price of 1.0500 USDT on Oct 18, 2023. View more PancakeSwap / Tether US dynamics on the price chart.
See the list of crypto losers to find unexpected opportunities.
See the list of crypto losers to find unexpected opportunities.
The safest choice when buying CAKE is to go to a well-known crypto exchange. Some of the popular names are Binance, Coinbase, Kraken. But you'll have to find a reliable broker and create an account first. You can trade CAKE right from TradingView charts — just choose a broker and connect to your account.
Crypto markets are famous for their volatility, so one should study all the available stats before adding crypto assets to their portfolio. Very often it's technical analysis that comes in handy. We prepared technical ratings for PancakeSwap / Tether US (CAKE): today its technical analysis shows the strong buy signal, and according to the 1 week rating CAKE shows the buy signal. And you'd better dig deeper and study 1 month rating too — it's strong buy. Find inspiration in PancakeSwap / Tether US trading ideas and keep track of what's moving crypto markets with our crypto news feed.
PancakeSwap / Tether US (CAKE) is just as reliable as any other crypto asset — this corner of the world market is highly volatile. Today, for instance, PancakeSwap / Tether US is estimated as 5.09% volatile. The only thing it means is that you must prepare and examine all available information before making a decision. And if you're not sure about PancakeSwap / Tether US, you can find more inspiration in our curated watchlists.
You can discuss PancakeSwap / Tether US (CAKE) with other users in our public chats, Minds or in the comments to Ideas.