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CAKEUSDT trade ideas

PancakeSwap Price Prediction Aug 2022PancakeSwap (CAKE) holds the 88th position on CoinGecko right now. CAKE price prediction 2022 is explained below with a weekly time frame. The above chart of Pancake Swap (CAKE) laid out a Descending Channel pattern. Descending channel also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market. Currently, Pancake Swap (CAKE) is in the range of $4.554. If the pattern continues, the price of CAKE might reach the resistance levels of $4.152, $5.270, and $9.434. If the trend reverses, then the price of CAKE may fall to $3.967 and $2.412. PancakeSwap (CAKE) Support and Resistance Levels The chart below shows the support and resistance levels of PancakeSwap (CAKE). From the above daily time frame, we can clearly interpret the following as the resistance and support levels of PancakeSwap (CAKE). Resistance Level 1 $4.916 Resistance Level 2 $6.924 Resistance Level 3 $10.169 Support Level 1 $2.486 Support Level 2 $3.641 Comparison of CAKE with BTC, ETH The below chart shows the price comparison between Bitcoin, Ethereum, and PancakeSwap (CAKE). From the above chart, we can interpret ETH, BTC, and CAKE are moving in the opposite direction with respect to that of BTC and ETH. This indicates that when the price of BTC and ETH increase, the price of CAKE decreases. When the price of BTC and ETH decrease, the price of CAKE increases. Happy Trading !
Long
by TheNewsCrypto
2
Cake/USDT Long📈Previous important support and resistance zones: ***r1: 4.277 ***r2: 4.156 Conditions for Long: 1. Descending triangle breakout 2.trendline breakout 3.momentum indicator trendline breakout 4.support from previous resistance ***r1 zone 6.Money flow index turned green from red 7.volatility has increased 8.di+ is above the di- 9.adx line is above 20 level Stoploss: 1.below the previous resistance zones of ***r1: 4.277 Take profit: 1.take profit is dynamic or trailing stop loss/take profit 2.need 9hr tf for multi-analysis potential reverse zone Exit point: 1.will be updated later in the comments box only if anyone asks
Long
by TrueUrBoss
2
CAKEUSDT BAT FORMATIONBat The Bat Pattern is a 5-point retracement structure that was discovered by Scott Carney in 2001. It has specific Fibonacci measurements for each point within its structure and it is important to note that D is not a point, but rather a zone in which price is likely to reverse, called the Potential Reversal Zone (PRZ). The B point retracement of the primary XA leg must be less than a 0.618, preferably a 0.50 or 0.382 and the PRZ consists of 3 converging harmonic levels: 1) 0.886 retracement of the primary XA leg, 2) extended AB=CD pattern, usually 1.27 AB=CD and 3) minimum BC projection is 1.618. The first target would be the 382 retracement of AD and the second target the 618 retracement of AD. A common stop level would be behind the X-point. Conservative traders may look for additional confirmation. Bat Patterns can be bearish and bullish. TradingView has a smart XABCD Pattern drawing tool that allows users to visually identify 5-point reversal structures on a chart.
by UnknownUnicorn38199698
2
CAKEUSDTHello Crypto Lovers, Mars Signals team wishes you high profits. This is a one-week-time frame analysis for CAKEUSDT Here we have R1 which used to be a support area. And S1 used to be a resistance line at which the disability of the price to rise is seen. Presently, the price is fluctuating over S1 and we expect it to fall to this line and then start its rising tend to R1. It is less probable for the price at the moment to have a fall below S1. Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions. Wish you luck
Long
by MarsSignals
🔥 CAKE Dying Slow And Painfully: Reversal When?CAKE was one of the major winners of the early 2021 bull-cycle, where it became very popular for it's staking and farming capabilities. However, with CAKE being an inflationary token, it means that CAKE is under constant selling pressure from investors who sell their staking rewards. When looking at the chart, you can see that there's little to be excited about. CAKE is falling and there's no reason to believe that we're going to reverse shortly. If anything, I wouldn't be surprised if CAKE will trade below $1 before the end of the year. So, when can we get excited? Simple, a bullish move above the dotted purple resistance. Only then I'd be looking for bullish entries. Till then, bears are happy and shorting remains a valid strategy.
by FieryTrading
16