CAKE/USDT (PancakeSwap)
Sector: Decentralized Exchange
Market Cap: $690M
CAKE, PancakeSwap's token, one of the most used DEX, failed to accumulate during the Bear Market, keeping its price in a clear range. We're seeing an exit from the bottom, but we've managed to get back in, and now the upper and lower limits are clear.
We are now consolidating on the lower boundary, which offers us a trade opportunity with a limited risk by placing a Stop Loss below this support.
We can envisage a return to the upper end of the range, where it would be wise to sell part of our position. And why not hold on to part of the bag, hoping to extract it and sell at the next resistance levels.
Sector: Decentralized Exchange
Market Cap: $690M
CAKE, PancakeSwap's token, one of the most used DEX, failed to accumulate during the Bear Market, keeping its price in a clear range. We're seeing an exit from the bottom, but we've managed to get back in, and now the upper and lower limits are clear.
We are now consolidating on the lower boundary, which offers us a trade opportunity with a limited risk by placing a Stop Loss below this support.
We can envisage a return to the upper end of the range, where it would be wise to sell part of our position. And why not hold on to part of the bag, hoping to extract it and sell at the next resistance levels.
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