PancakeSwap (CAKE)

SaeedSalehinia Updated   
PancakeSwap is an automated market maker, a decentralized finance application that allows users to exchange tokens, providing liquidity via farming and earning fees in return. Cake's price rose as its popularity did; then cake entered a corrective phase, a long one. It seems cake's price is headed toward the Fibonacci's golden pocket 0.618-0.65 area. Let's see if price can reverse from this area or goes down further.

Cake analysis is updated: Cake broke the major downtrend line.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.