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CAKE

🔥 RIP CAKE: Going To Zero?CAKE has been dumping very hard over the past couple of days. Where the market has seen a big bullish move, CAKE completely ignored it and continued going down. Why you ask? It has to do with a token unlock. Investors got their hands on 52-week staked tokens and sold them on the open market. Apart from the terrible looking technicals, the idea behind this unlimited supply (inflationary) token just doesn't perform well in bearish market conditions. If we will not see some kind of bounce from the June 2022 lows, I don't see any reason to be bullish on CAKE in the foreseeable future. In addition, we have to consider the fact that CAKE might have had it's peak and will slowly bleed to zero over time (which is not uncommon in crypto). Is this token going to die? Reversal when? Share your thoughts on CAKE🙏.
Short
by FieryTrading
11
What’s in Market about #PancakeswapCake/USDT Chart Analysis: Is It Time to Buy? Cake (CAKE) is a popular cryptocurrency that has been in the news lately due to its recent price movements. The coin has been experiencing pressure as investors are selling following the unlocking of tokens. This article will provide a detailed chart analysis of Cake/USDT and explore whether it is a good time to buy. Chart Analysis: As per the chart, Cake is currently trading at handle support. If it can hold this support, we can see an upward rally. However, it is recommended to wait for the market negative sentiments to settle before entering the market. If you decide to enter, the suggested buy level is around $2.5-$2.7. The pattern observed is a cup and handle pattern, which suggests that there is potential for the coin to increase in value. Long-term Targets: In the long term, Cake has significant potential for growth. The targets for Cake/USDT are $4.6, HKEX:8 , HKEX:12 , and $20. These targets are based on the analysis of the cup and handle pattern observed in the chart. Stop Loss: It is important to have a stop loss in place to minimize losses. If any daily candle closes below $2.30, it is recommended to exit the market to prevent further losses. Market News: Recent market news indicates that Cake has unlocked tokens, and investors are selling due to the broken promise of 200% staking reward, which was reduced to 46% after two months. This situation has created pressure on the coin, leading to a decrease in value. Takeaways: Cake is currently trading at handle support, and if it holds this support, an upward rally can be expected. The pattern observed is a cup and handle pattern, suggesting that the coin has potential for growth. The suggested buy level is around $2.5-$2.7. The long-term targets for Cake/USDT are $4.6, HKEX:8 , HKEX:12 , and $20. It is important to have a stop loss in place to minimize losses. Recent market news indicates that Cake has unlocked tokens, and investors are selling due to the broken promise of 200% staking reward. Conclusion: Cake/USDT is a cryptocurrency that has shown potential for growth in the long term. The current chart analysis suggests that it is a good time to buy, provided the coin holds the handle support. However, recent market news indicates that there is pressure on the coin due to the unlocking of tokens and broken promises. It is recommended to do your research, invest wisely, and always have a stop loss in place to minimize losses. Follow us for more Quality Content. Thank you.
by CryptoPatel
5
CAKE Idea for Long tradeLow risk, entry price: Above $3.890 till $3.900 Medium risk, entry price: ==> 1. Above $3.850 in Yellow Area & 2.After 1H or 2H candle sticks close in Yellow Zone above $3.850, it means that can be close to Uptrend line CAKE vs USDT CAKEUSDT CAKEUSD BINANCE:CAKEUSDT CRYPTO:CAKEUSD ✅ ✅ Risk warning, disclaimer: the above is a personal market judgment and analysis based on published information and historical chart data on The trading view, And only some of these analyzes are my actual real trades. I hope Traders consider I am Not responsible for your trades and investment decision.
Long
by Arash-RK
Everybody Loves CAKE 🍰 Analysis #11/50Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. on DAILY: Left Chart CAKE has been stuck inside a big range between the 3.0 support and 5.0 resistance. Now CAKE is approaching the lower bound / support zone so we will be looking for buy setups on lower timeframes. on H4: Right Chart CAKE is bearish from a short-term perspective trading below the red trendline. 🏹 Trigger => for the bulls to take over, we need a new high to form and then a break above the upper red trendline and red zone. Meanwhile, until the buy is activated, CAKE can still trade lower till the 3.0 - 3.2 support zone . 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
2
Do You Think Now is a Good Time to Buy CAKE?CAKE is nor 91% below it's ATH If we buy now, and it goes to its ATH, we have a potential to gain more than 10x profit. Even if it doesn't go to ATH, let's say only half to it's ATH, it's stilll 5x profit. Pretty damn good, aye? In a shorter term, we can see that CAKE: 1. Bounce from it's support 2. Is in 618 fib retracement We only need to wait for it to reclaim 50 EMA for further confirmation. My target for shorter term will be around 5.8 USD We can also use the CAKE bag to farm/stake, for additional income
Long
by Evolutiontrading-Indonesia
Pancake Swap Chart Analysis 9 Bearish Sentiment in Short Term )Technical Analysis of $Cake/USDT: The current trading price of $Cake is $3.81, and it is observed to be trading below the support level as per the 6-hour chart. The support level at $Pancake has now become a strong resistance level, and it is essential to monitor this level closely. If the price remains below the resistance level of $3.82, there is a high possibility of a bearish movement in $Cake. After the breakdown, it is expected to see a 17% downward movement from the current level, resulting in the target prices of $3.50 and $3.13. It is recommended to keep a close watch on the support levels, which are $3.50 and $3.13. However, if the resistance level of $3.82 is broken, the price may move upwards. It is also observed that the MACD is converting bearish as per the 6-hour time frame chart. If you find this analysis useful, please appreciate and share it with your friends. Kindly follow me for the latest real-time updates on cryptocurrencies. Thank you.
Short
by CryptoPatel
5
CAKE Proffesional Analysis PancakeSwap, a decentralized exchange built on the Binance Smart Chain, is currently generating a lot of attention in the cryptocurrency market. The recent bullish trend seen in the 20 and 50 exponential moving averages is providing a positive outlook for the asset. This crossover of the EMAs is a positive sign for traders and investors, indicating that the price of PancakeSwap is likely to move upward in the near future. Furthermore, the daily chart for PancakeSwap shows higher lows, a bullish pattern that is further supporting the positive outlook. The fast transaction times, low gas fees, and high liquidity on PancakeSwap have made it a popular choice for decentralized trading, and the current bullish trend is only adding to the excitement around the project. However, as with any investment, it's important to keep in mind that cryptocurrency markets can be highly unpredictable. It's essential to do thorough research and understand the potential risks before making any investment decisions. Overall, PancakeSwap is worth paying attention to as the asset continues to display bullish signs and potential for growth in the decentralized exchange market. With a strong following and increasing popularity, PancakeSwap is one to watch in the near future.
BINANCE:CAKEUSDLong
by LegacyTrendX
1