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CAKE

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
Today is time to buy CakesTrending PancakeSwap Coin May Soon Hit The $5.5; Enter Now? The crypto market faced multiple sell-offs over the past three months caused by events such as High CPI data, US Fed interest rate hikes, etc. This intense selling pressure caused even the major cryptocurrencies to revisit their 2022 low. However, fighting-off such affairs, the Pancakeswap coin price has maintained a steady rally using a long-coming support trendline Key points from Pancakeswap coin analysis The Pancakeswap coin traders can maintain a bullish sentiment until the support trendline is intact The 50-and-100-day EMA nearing a bullish crossover could increase market demand. The intraday trading volume in the Litecoin coin is $50.1 Million, indicating a 53% gain. The pancakeSwap coin price has shown steady growth with new higher highs and highs and lows over the past three months. During this rally, altcoin retested the ascending support trendline multiple times, indicating the traders are actively buying at this support. Furthermore, the last bull run turned down from the multiple-month resistance level of $5. The bearish reversal tumbled 8.5%, where it retested the $4.55 flipped support. The altcoin rebounded from this level, indicating the buyers have obtained suitable support from it. The pancakeSwap coin price rising for three consecutive days registered 4.2% gains. However, the volume activity depleting with rising prices indicates weakness in bullish momentum. Thus, if the trading volume doesn’t pick up, market traders may witness a reversal from the $5 psychological level and keep wavering above $4.55 support. Anyhow, a great entry opportunity to buy CAKE tokens will be when the price shows a reversal sign at the rising support trendline. Moreover, a breakout from $5 will give an additional confirmation for prolonged recovery and may drive the prices 9.5% higher to hit the $5.5 mark. On a contrary note, a breakdown below the ascending trendline will cause a significant correction in the Pancakeswap coin. Technical indicator Relative strength index: the daily-RSI slope is rising higher if bullish territory indicates the market sentiment supports price recovery. EMAs: the upswing in crucial EMAs(20, 50, and 100) gives additional confirmation. Moreover, the 20-day EMA is offering constant support to trending coin price. Resistance Levels: $5 and $5.5 Support Levels: $4.5 and $4.2 Source: coingape
C
by MercaPlace
CAKEUSDT - 1D Interval - Resistance and SupportHi everyone, let's take a look at the CAKEUSDT chart on the 1 day time frame. As you can see, the price of the cake is moving in the uptrend channel and is currently at the lower end of this channel. Although the price is at the lower end of the current channel, we are also in front of an important resistance zone that starts at $ 4.57 to $ 5.14. If we manage to break the resistance zone, we still have resistance lines at $ 6.79. However, if the price starts to fall, you need to look at what support we have in front of us and you can also see that the first important support zone is from $ 4.1 to $ 3.78, if the support does not hold the price, the next zone starts from $ 3.48 to $ 3.04. It is worth paying attention to the CHOP indicator which indicates that we have a lot of energy for the next move, while the MACD indicator indicates that we are in a downward trend.
by cryptodailyuk
$CAKE - Will this MELT Down soon!!Hello my Fellow TraderZ, Few days ago, I have shared my view on $CAKE #PANCAKESWAP on Daily TF, where I had mentioned that Price was ranging inside an ASCENDING TRIANGLE, broke it and coming for the retest for the further upside move. Today I'm sharing another possibility on DTF where it can be easily seen that the price is forming a Narrow RISING WEDGE Pattern. I'm not saying that this is going to be happen but just a possibility only if the Price unable to hold the current Support Zone . Keep an close eye on $CAKE as both side RISK:REWARD is very good. Happy Trading Fam. CHEERS!!!
by TRADER-GOKU
Cake - A Breakout is duePancecake 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 overall solid and steady investor appetite. In September, Cake broke a long term bearish trend-line in area $4.4 and was attempting to touch the short-term bearish trend-line from April highs before getting rejected from the resistance in $5 area. Depending on market conditions, would be likely of a minor correction from here to area $4.2 before trying to break out past area $5.
BINANCE:CAKEUSD
by crypto_angelz
$CAKE - Just Taste ItHello my Fellow TraderZ, After June lows, $CAKE has been ranging inside an ASCENDING TRIANGLE on Daily Time Frame and continously maintaining the Higher Lows. Previous Daily candle closing was Pin Bar pattern with decent Volume. Now the price is trying to attempt the Breakout of the Triangle, all we need is greater Volume bars than previous one. Hence this breakout will be valid. Keep it in the Radar and enjoy the Trading. Target mentioned on the chart. Happy Trading. CHEERS!!!
Long
by TRADER-GOKU
4
CakePancakeswap (CAKE) — the token remains one of the most favorite of the audience, constantly getting into the ratings for social activity and trends. It seems to me that #CAKE will take its rightful place in the BNB ecosystem in 2023-2024. Plus, all the time: - Emission is limited. - % of rewards in CAKE pools are cut - which reduces the inflation of the token. - DEX and BSC are developing - including all sorts of bridges. - Large holders are controlled - by "blocking" CAKE in staking. - Received investments from Binance Labs. From a technical point of view, so far nothing has been observed on CAKE, except for the last month it has been going against the market and Bitcoin. The chart shows a clear push towards the $4.6 level, our opinion is that after the breakdown we will go to test the 200 MA. If we consider token in the long term, I would like to see another update of the bottom to make purchases, but otherwise the price of about $3 seems pretty to me
by razumcapital
2