CAKE
Pancake Swap ($CAKE) Consolidating Before $14.60 TargetPancake Swap ($CAKE) is in a great spot to buy on the low end while it bounces between $12.80-13.55.
I'm looking to sell about 75% each time it hits $13.50 and then buy back in at $12.85. I like to have a bit of cushion as I've missed out on trades by pennies trying to get exact.
Look for it to breakout over the next few days to reach my price target and previous resistance around the $14.60 mark.
Pancake Swap ($CAKE) Will Continue to Climb Thanks To UniswapWith Uniswap's announcement that v3 won't be coming until May, Pancake Swap will pick up even more market share as people look for lower transaction costs.
Once it breaks through the $12.57 resistance, it will easily reach $13.41 and $14.61 is completely possible in a short timeframe.
Look to play this one for the short-term, however, due to their tokenomics creating a lot of inflation over the long-run.
Cakebtc posisble long path % 140 !!it will follow one of those paths but all the way will have the same end.
ıt is normal to see h&S or cup and handle during rising. So if you feel it will not break that resistance you can take profit.
PancakeSwap (CAKE) Project Overview + Targets (245%)What Is PancakeSwap (CAKE)?
PancakeSwap is an automated market maker (AMM) — a decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return.
It launched in September 2020 and is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain. PancakeSwap uses an automated market maker model where users trade against a liquidity pool. These pools are filled by users who deposit their funds into the pool and receive liquidity provider (LP) tokens in return.
These tokens can later be used to reclaim their share of the pool, as well as a portion of the trading fees. These LP tokens are known as FLIP. PancakeSwap also allows users to farm additional tokens such as CAKE and SYRUP. On the farm, users can deposit LP tokens and get rewarded with CAKE.
PancakeSwap allows users to trade BEP20 tokens, provide liquidity to the exchange and earn fees, stake LP tokens to earn CAKE, stake CAKE to earn more CAKE and stake CAKE to earn tokens of other projects.
Source: Coinmarketcap.com
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Here we have CAKEBTC (PancakeSwap) with a bullish chart setup.
Prices moving above EMA21 and bullish action only in the past four days.
You have multiple targets marked on this chart up to 245% of potential profits.
This is not financial advice.
Thanks a lot for your support.
Namaste.
CAKE - Still work to do to get to $13Cake finally showing some bullish price action but still neutral on this ALT based on initial sketched TA
Immediate Target is $14.5. Punchy at 45% with lower probability than I'd like. Ideally Id like to see cake break and hold the $13 - $14 range. Downside still looks lumpy.
Best, Hard Forky
[CAKEUSDT] +70% potential next few weeksHi everyone!
CAKE looks absolutely bullish for the next few weeks.
I think we can reach $18-$19-$20 area pretty quickly (if BTC doesn't do any crazy move until then)
Everything is on the chart, this is not an investment advice.
Good luck!
Bullish Pattern on CAKE!CAKE should be breaking anytime within this 3 days. Symmetrical triangle pattern formed.
Higher tendency of breaking to the upside. Target to retest the previous high at $21. That is a 100% gain from the current price $10.60
Breaking downwards should retest the $5-8
Note: Not a financial adviser, just my own personal view on this current pattern. Trade at your own risk.
CAKE can be sweet, CAKEUSDTHello my friends. Everything is clear on the chart for you, so If the pullback is approved, buy it. Good luck.
If you like the idea, do not forget to support with a like and follow me for next analysis :)
CAKE - Double bottomHere's a quick look at CAKE 4 hr chart. As we can see, the price has been forming a double bottom pattern. We might get a break soon to the upside. keep this one under your radar!
The idea is: Buy the breakout from the level shown in the chart and sell at the target areas shown in the chart.
Targets:
1. 13.6$
2. 16.1$
Follow me for daily profitable trading setups
BTC dictates the market. If BTC goes down, then the alts will take a hit. Trade safe!
Early hodlers have capitulatedNOT a financial advice
3 weeks ago early hodlers capitulated by selling below initial price
Already retraced .786 of the impulsive move after capitulation
The recent DNS hack a few days ago failed to send it below $8.3
CAKE sidelining CAKE REVIEW
Rough consolidation for CAKE, just experienced a bad event recently with the DNS attack, luckily the team managed it really carefully.
Most of the value of CAKE remained because of people staking it and using farms for rewards.
Price action could be explained by less buyers in and more early adopters selling to invest elsewhere. Lack of new incentives to buy $CAKE is reason why price is slowly dropping. As long as TVL remains high and solid, I wouldn’t panic.
The fact that the price is under the 200EMA in the 4H chart makes me kinda bearish, but when we zoom out to the daily we are only near the 50EMA, which is still fine for now.
RSI has been under 55 for the main time since mid February (but never went completely oversold)which shows that a lot of people are still holding and staking.
Pancake is willing to be the Uniswap of Binance, for so it has revamp itself, which is going to happen before June 30th with CAKE V2 to happen in Q2.
On a fundamentals perspective, I am really bullish on CAKE since they are planning to change the contract for migration and develop:
* The ability to create a referral program (users can earn a percentage from referral fees).
* Adding an automated buyback and burn mechanism (from trading fees).
* Enable automatic compounding on syrup pools.
* Enable access to minting logic; governance votes decide on emission rates.
* LENDING & BORROWING
PancakeSwap is currently working on a Minimal Viable Product (MVP) version for lending and borrowing. The high demand for such products can be seen in projects like Venus, which is currently the project with the highest TVL on the BSC. PancakeSwap wants to be able to offer this service to its users as well. The fees generated by lending and borrowing would be used to buyback and burn $CAKE. This product will be released after the release of their prediction market.
These are the reason why I would buy more if ever we would retest the red support at 5$.
Otherwise I’d keep staking in the syrup pool and earn juicy CAKE that I would sell not less than 22$
Cheers
