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CAKE

PancakeSwap CAKE price is trying to break up from downtrendThe CAKEUSDT price has been in a falling trend channel since April 2021. In fact, almost immediately after "the hype CAKE" exited into the market, when the price of CAKE rose from $10 to $44 in a month, the search for a fair market price began. Looking at the chart, we can see aggressive buying of CAKEUSD from $3 After, buyers of PancakeSwap twice time bought back the price from the critical $3.60 level, giving him the status of a "mirror" Roughly speaking, we can say that a price zone of $3-5 is a zone of fair market price , which satisfies both buyers and sellers for the last six months. Therefore, in case of positive developments in the cryptocurrency market, we can expect the CAKEUSDT price to exit the falling channel. The first task of buyers is to break through and consolidate above $5.50. If this condition is met, in the medium term, you can start dreaming about growth to the region $8.75 - 9 If the wave of negativity again covers the crypto market and the price of CAKE drops below $3.60, then it is not worth buying CAKE again before $2.90-3. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
Long
by P_S_trade
49
The important resistance area!CAKE had a range trend during the last week. Its price fluctuates between two very important resistance and support levels corresponding to the 4-hour time frame. The support was considered in the range of $3.42 to $3.65, and its resistance was in the range of $4.10 to $4.20. If the resistance and range of Bitcoin are broken, we can expect to see the price continue to grow until the next target range of $5. Note that the current resistance is very serious and important. Breaking this range requires the stabilization of favorable conditions in the market. Because it can both increase the trend in the 4-hour timeframe and the price can completely exit the long-term downward channel. For the short-term and in the 1-hour time frame, as long as the support of the $3.82-$3.87 range is maintained, there is a potential to break the resistance. You can also consider a symmetrical triangle pattern for the current price in the same time frame. Failure of the pattern from any side can affect the continuation of the price of this currency. According to the type of candles and most likely, the direction of price departure from the pattern will be from above. In this case, we can expect a further price increase from CAKE after breaking the resistance and pulling back to it.
by MonoCoinSignal
5
Eliminate sales pressure?!CAKE had a sharp downward trend during the past weeks. After the buyers brought the price to the resistance level of $5, there was a strong reaction in this area, and the saving of profit by the buyers, along with the selling pressure that was applied in the whole market, caused a 30% price dump of this currency. The support level that was considered in the range of $4.10 to $4.23 for this currency has now turned into resistance. But the second support, which was in the range of 3.46 to 3.65 dollars, has been associated with a good positive reaction. The market made a return to its resistance levels last day, and CAKE currency has hit the resistance of $4 with the good support of its buyers. In the 4 hours, the price trend of this currency can become a range mode if it does not break the resistance of $4 because the power of buyers has risen dramatically above the previous support level. Therefore, we expect a range trend from this currency this week. If the buying support continues and the $4 resistance is broken, the price could break out of the long-term bearish channel, and this could go a long way in removing the selling pressure.
by MonoCoinSignal
💁‍♂️ CAKE/USDT _ 3D 💁‍♂️ HI Everyone, As you can see, the price is in the range of 3.82. In a 3-day time frame, if the price penetrates below the 3.60 range, the price may be accompanied by a correction to the $3 range. 💹 Support Ranges $3.30/3.10$/2.45$ ⚠️ Maintaining the specified range is important! !️ We may see further correction if we lose the 2.45 support range. ❗️⚠️ ❎ (DYOR)...⚠⚜ WHAT DO YOU THINK ABOUT THIS ANALYSIS? I will be glad to know your idea 🙂✌ IF you like my analysis please LIKE and comment 🙏✌
Short
by SasanSeifi
CAKE fluctuated wildly last week!CAKE fluctuated wildly last week. The price of this currency showed a negative reaction after leaving the medium-term ascending channel by hitting the resistance of $4.8 again. The decline continued to the $4.08-$4.23 range, and this support was also met with a positive reaction. CAKE currency trend can range between these two support and resistance ranges. A resistance range in the price of 4.62 to 4.73 dollars is considered for this currency. It is a very important area to change the trend in the 4-hour time frame. Therefore, buyers must return the price above this resistance for the price trend to rise in the 4-hour time frame. If the selling pressure in the market increases and the specified support is broken, the sharp decline in the price could continue to the range of $3.46-$3.65. As you can see, the price trend has not yet increased in the daily time frame. But the two defined blue support areas can prevent the price from falling further and returning to the bottom of the long-term descending channel. Observing signs of return and support in the lower time frames can make the trend upward for a short time.
by MonoCoinSignal
12
CAKE WAS FUN BUT NOW ITS DONE! Multi Year Correction IncomingPancakeSwap CAKE/USD is showing some real weakness. The selling pressure is astronomical and its going to consolidate for a while maybe a few years if it sticks around. These types of projects will more than likely be weeded out by new regulation over the years. Unless Cake can move with the regulation coming then its more than likely going to tank. It had a nice run but many of these new crypto's and other crap coins/project are going to fizzle away in the next few years. This is not trading or financial advice just my opinion. Comment and like if you appreciate this content. Follow me for more frequent updates. Thank you
Short
by Bitgolder
2
Can still be bought for profit PancakeSwap burns 6.8 million CAKE but is it enough to keep the bulls indulged A bit of CAKE was recently taken off the menu but was it enough to cause a scramble for the remaining amount? PancakeSwap announced that it recently burned slightly over 6.8 million CAKE, slightly lowering the circulating supply. At press time, CAKE had a circulating supply of 141.53 million coins. According to the announcement, the recent token burn eliminated 6.814 million coins. This represented about 0.048% of CAKE’s circulating supply. Coin burn mechanisms are a great way of trimming down a coin’s inflation and this often has a positive price effect if enough coins are burnt. The recently burnt 6.8 million CAKE coins made up less than 1% of the total supply. Thus, the burned tokens may not be enough to trigger a major price impact in the grand scheme of things. However, investors may react positively in the short-term to the news of the token burn. A slice of delight for investors CAKE’s weighted sentiment and social dominance metrics were already up significantly prior to the token burn announcement. The news may have helped to maintain the favorable market sentiment while fostering the social dominance boost. CAKE’s sentiment shift seemed to have favored its demand. The FTX funding rate improved considerably in the last two days, confirming a return of healthy demand in the derivatives market. As far as risks and rewards were concerned, CAKE’s four-week Sharpe ratio was at 2.47 at the time of writing. This confirmed that CAKE was inclined towards the reward side since the last four weeks. Especially for those that bought towards the end of last week when prices dropped to the lowest level since July. CAKE also demonstrated a healthy observation in terms of on-chain demand. Its volume also registered increased activity in the last three days. This was especially the case in the last 24 hours, during which volumes reached as high as $1.14 million. The volume might be associated with increased trading activity from the recently reported CAKE burn. However, the largest volume spike occurred on 15 October which also happened to be mid-month. This was around the same time that CAKE’s price action pivoted. CAKE managed to pull off a 12% upside in the last five days after bouncing off from its current October lows. It traded at $4.64 at press time. A bit of CAKE was recently taken off the menu but was it enough to cause a scramble for the remaining amount? PancakeSwap announced that it recently burned slightly over 6.8 million CAKE, slightly lowering the circulating supply. Here’s AMBCrypto’s price prediction for PancakeSwap for 2022-2023 At press time, CAKE had a circulating supply of 141.53 million coins. According to the announcement, the recent token burn eliminated 6.814 million coins. This represented about 0.048% of CAKE’s circulating supply. Coin burn mechanisms are a great way of trimming down a coin’s inflation and this often has a positive price effect if enough coins are burnt. The recently burnt 6.8 million CAKE coins made up less than 1% of the total supply. Thus, the burned tokens may not be enough to trigger a major price impact in the grand scheme of things. However, investors may react positively in the short-term to the news of the token burn. A slice of delight for investors CAKE’s weighted sentiment and social dominance metrics were already up significantly prior to the token burn announcement. Source: Santiment The news may have helped to maintain the favorable market sentiment while fostering the social dominance boost. CAKE’s sentiment shift seemed to have favored its demand. The FTX funding rate improved considerably in the last two days, confirming a return of healthy demand in the derivatives market. Source: Santiment As far as risks and rewards were concerned, CAKE’s four-week Sharpe ratio was at 2.47 at the time of writing. This confirmed that CAKE was inclined towards the reward side since the last four weeks. Especially for those that bought towards the end of last week when prices dropped to the lowest level since July. Source: Messari CAKE also demonstrated a healthy observation in terms of on-chain demand. Its volume also registered increased activity in the last three days. This was especially the case in the last 24 hours, during which volumes reached as high as $1.14 million. Source: Messari The volume might be associated with increased trading activity from the recently reported CAKE burn. However, the largest volume spike occurred on 15 October which also happened to be mid-month. This was around the same time that CAKE’s price action pivoted. CAKE managed to pull off a 12% upside in the last five days after bouncing off from its current October lows. It traded at $4.64 at press time. Source: TradingView It also helped that the market experience some bullish relief in the last 24 hours, thus strengthening CAKE’s upside. Investors should thus expect the current trajectory to persist especially if conditions remain favorable. While the short-term outlook was already faorable, CAKE might tap into more value in the long-term. Especially if the token burns occur regularly. Source: ambcrypto
C
by MercaPlace
1
💡Don't miss the great buy opportunity in CAKEUSD @PancakeSwapTrading 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 support. . The RSI is at 65. Take Profits: TP1= @ 4.822 TP2= @ 5.076 TP3= @ 5.549 TP4= @ 6.235 TP5= @ 7.138 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BINANCE:CAKEUSDLong
by ForecastCity_World
4
💡Don't miss the great buy opportunity in CAKEUSD @PancakeSwapTrading 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 dynamic support. . The RSI is at 65. Take Profits: TP1= @ 4.822 TP2= @ 5.076 TP3= @ 5.549 TP4= @ 6.235 TP5= @ 7.138 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex / Crypto trader ? Now, It's your turn ! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BINANCE:CAKEUSDLong
by ForecastCity
2