logo logo
Cryptopolitan 2021-09-24 12:10:05

PancakeSwap price analysis: We expect CAKE/USD to break the $34 resistance

TL;DR Breakdown PancakeSwap price analysis is bullish today.CAKE/USD saw a slight retracement today.PancakeSwap is attempting to retest the $23 resistance. PancakeSwap price analysis is bullish, as a new higher low was established today above $22, and bulls are presently pushing the market higher. As a result, we anticipate the $23 resistance to break later today, allowing CAKE/USD to create a new high. Cryptocurrency heat map. Source: Coin360 Over the last 24 hours, the cryptocurrency market has been in good shape. Bitcoin is up 3.5%, while Ethereum is up 6.73%. On the other hand, Dogecoin has had a spectacular day, increasing by 11% and outperforming all other cryptocurrencies. PancakeSwap price movement in the last 24 hours CAKE/USD is up 4.4% over the last 24 hours and is presently selling for $18. PancakeSwap’s price movement today can be attributed to a couple of factors: solid technical indicators and upcoming news. Let’s start with support levels: we know that $23 is a firm price point, as it has been tested and retested multiple times. Price action began to move upwards upon the test of $23 resistance, which was verified at 4:30 UTC on August 21st. This indicates that prices will likely move higher than this level – the only question is how high. Technical indicators are also bullish for CAKE/USD, with both the Moving Average Envelope and Bollinger Bands trending upwards. Additionally, the RSI is at 61, which m...

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