CAKE has been in a downtrend since ATH, the bottom could be in. The price is also at an all-time low currently.
Boilinger Bands indicator show a breakout at 7,50ish. If price movement could break through 9,00 resistance, we will see an uptrend. Combination of breakout on Boilinger Bands and resistance level could be huge.
Fundamentals: Pancakeswap (CAKE) is the...
CAKE-USDT currently accumulating under 21$ & forming a descending triangle chart pattern in 4H & 1D time frames. This should breakout soon since price action is almost near the apex of the triangle. Please wait for a clear breakout with above-average volume to enter for the trades.
BTC price & Dominance will be directly affected to the above prediction.
So here are the resistances and supports of cake usdt on higher time frames. it is a bit laggy then the rest of the market but will perform better in the coming days as NFT market place will be launched on pancakeswap. hope you like my idea.
Cake has had a great growth from 10BUSD to 26BUSD and needs some rest, just like BNB. cake has been lost its ascending channel and is ranging between 22.1-24.3. Next growth is expected after breaking 24.5-26.5 BUSD