logo logo
Cryptopolitan 2021-09-17 05:21:32

PancakeSwap price analysis: Bulls incapable of crossing $24 resistance as bears take over

TL;DR Breakdown The latest PancakeSwap price analysis reveals price movement has been bearish.Price levels have dropped today till $22.4.Support standing firm at $18.1. The PancakeSwap price analysis is going bearish for the day, as the price has receded back to its former level i.e. $22.4. The bulls have been continuously victorious through out the past week, and the PancakeSwap price underwent major improvement as well. This trend has been reversed today as the bears are once again in the winning state. The momentum is building up at a slow pace, as the bears are recovering after a long interval. CAKE/USD 1-day price chart: Bears eradicate further chances of elevation for CAKE The one day price chart for PancakeSwap price analysis is following a bearish momentum as the bears are trying to be at lead again. Their efforts have been fruitful so far, as the price has downgraded today and has moved down to level of $22.4. The bears have been at the front position during the previous week, which is why the moving average (MA) is quite lower i.e. $20.55 as compared to the price. The volatility is decreasing, and as per the analysis it is a positive hint for the future. CAKE/USD 1-day price chart. Source: TradingView As the volatility is decreasing, the Bollinger band values have adjusted themselves to meet the following levels; the upper band is at $26.4 level and the lower band is at $18.32 level. The Relative Strength Index (RSI...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer