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Cryptopolitan 2021-09-19 15:30:19

PancakeSwap Price Analysis: CAKE sets higher low at $22, ready to break higher?

TL;DR Breakdown PancakeSwap price analysis is bullish today.CAKE/USD saw a slight retracement today.PancakeSwap is moving for another test of the $23 resistance. PancakeSwap price analysis is bullish for today as a new higher low was set today above $22 and bulls currently push the market higher. Therefore, we expect the $23 resistance to break later today and CAKE/USD to set a new higher high. Cryptocurrency heat map. Source: Coin360 The overall market traded in the red over the last 24 hours. The market leader, Bitcoin is down by 1.46 percent, while Ethereum is down by 3.33 percent. Meanwhile, Polkadot (DOT) is among the worst performers today, with a loss of 5.38 percent. PancakeSwap price movement in the last 24 hours: PancakeSwap retraced to set a higher low at $22 CAKE/USD traded in a range of $21.88 – $22.72, indicating mild volatility over the last 24 hours. Trading volume totals $269.9, down by 19.1 percent from yesterday, while the total market cap trades around $5.5 billion, ranking the coin in 32nd place overall. CAKE/USD 4-hour chart: CAKE looks to break $23 On the 4-hour chart, we can see bulls gaining momentum over the past hours as the PancakeSwap looks to break past the $23 resistance. CAKE/USD 4-hour chart. Source: TradingView The Pancakeswap price action has seen strong volatility over the past weeks. On the 7th of September, CAKE/USD saw a quick drop of almost 30 percent, with a new swing low est...

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