CAKE daily
poised to run hard if $BNB does too imo. Has been a market outperformer since June. This chart looks too good. Algo likes it in every way for the first time since August 2021. Fundamentals+Technicals in crypto is rare, but cake has it as Binance Chains #1 DEX doing hundreds of millions of dollars of USD revenue every day. 3 BILLION USD TVL.
Cake is coming to Aptos is a bullish news but currently the charts shows me that we are going all the way down for a long walk along side other altcoins and bitcoin… so I’m currently bearish on $cake pancakeswap
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (4.606).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CAKEUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic...
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (4.606).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CAKEUSDT is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
Pancecake Swap token got rejected in area $5, a resistance area formed during the crash of May - June, when the price plummeted to its multi-year low at ~$2.5 price per token.
Over the course of the past 4 months, Cake has been able to grow +100%, pushed by a positive momentum generated from the additional commitment from several investors in the platform and...
Bouncing off the volume shelf in favor of the bulls. One of the few crypto’s with an actual utility as the biggest DEX on the biggest exchange (Binance). No liquidity until 60% higher soon. RSI Breakout ready as well. GLTA
Actually, I staked the coin on Pancake Swap Platform and my coins have been locked for many months without other opportunity. So, I have to find an opportunity on trading instead. I apply my favorite setup for short-term trading. The first TP is expected with limited risks. Good Luck, everybody.
BINANCE:CAKEUSDT
This short term goal should be achievable within 1-3 months. I would suggest having 50% TP at $5.33, a 21.5% gain that should happen in less than a month. You can put another 50% of remaining amount at $8.33 as next target, or 100% of remaining amount which I strongly recommend because price will be pulled back and you can re-enter.
Summary:...
CAKE is moving in a downward channel.
Trading volumes are down.
Price has fallen below 100MA 1H.
I expect the price to correct, but after fixing under the resistance level, the price will continue to fall.
this coin was one I was interested in last bull run with alt coins big on bull runs package sees a lot of traffic with that. being said circulating supply keeps going up which they are trying to stop with big burns happening overall cake needs to break 5.3 mark falling to do so we are still in the bearish movement
The fall has be deadly for cryptocurrency generally.
PANCAKESWAP is sitting on $6.9. Is this fall going to continue? Or will the Bull save the fall from continuing?
Please share your Idea, thoughts and comments.
KINDLY: LIKE AND FOLLOW.
Having been moving in a downward channel since April, the Cake reached the lower boundary and started to form an upward channel from there.
Price broke through the 50, 100 and 200 MAs on the 1H Timeframe.
Volatility has increased and volumes continue to rise.
I expect a small correction with a fix above the liquidity zone before continuing to rise.
