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Pancakeswap

CAKE: Falling Wedge BreakoutPancakeSwap (CAKE) technical analysis: Trade setup : Bullish breakout from a Falling Wedge pattern, which could signal a trend reversal and upside potential to $4.00 resistance and 200-day moving average. Patterns : Falling Wedge It usually forms after a downtrend and suggests a potential bullish reversal in the original downtrend. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order. Trend : Downtrend across all time horizons (Short- Medium- and Long-Term). Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI < 45 (Bearish). Support and Resistance : Nearest Support Zone is $3.00. The nearest Resistance Zone is $4.00.
Long
by altFINS
Pancakeswap (CAKE/USDT) Close to Reclaim Levels Above $4Pancakeswap has been one of the popular crypto asset in the market. CAKE price has displayed acute strength ever since it formed its lows by the mid-June 2022. It was on its path to reclaim the lost levels, but the recent FTX-fiasco flipped the entire market flipped and fell into a deep bearish trap, from which the CAKE price is unable to make a comeback. However, the price is trying hard to set up a bullish outlook and hence is able to sustain above $3 despite extreme bearish pressure. The price rebounded finely from the 0.236 FIB levels around $3.2 and consolidating finely just above these levels but constantly failing to surpass the levels at $3.5, hence has become a pivotal zone to clear. Once these are cleared the next leg up may uplift the price beyond 0.382 FIB levels close to $3.7, beyond which the possibility of reaching $4 may emerge before the end of the yearly close. Besides, the volume has dropped miserably which may hinder the progress of the rally by lowering the pace. Therefore, CAKE price could have a bearish close provided bulls remain off-the-shore until the start of the fresh yearly trade.
by Coinpedia-Market-Insight
1
$CAKE, a long term gem.Back to early 2021, Pancake Swap was one of the most participated DEX. Volume, DAU and TVL growing make $CAKE sky-rocketed to $40. Then, bear market and DeFi winter came (along with lots of exploit on BSC DeFi protocols) and $CAKE price heavily dumped to the bottom of $3. In the last 2 months, $CAKE managed to bounce to $4, thanks to the market rally and some new Pancake Swap development. But the weekly candles growing weak, into a reversal pattern. $CAKE will have to back test $3 level before bounce back higher in 2023. Entry : $3.1-$3.3 Stoploss : $2.8 Target : $4.5 - $6 - $10 (longterm)
Short
by Chainslab_Analytics
PancakeSwap CAKE price is trying to break up from downtrendThe CAKEUSDT price has been in a falling trend channel since April 2021. In fact, almost immediately after "the hype CAKE" exited into the market, when the price of CAKE rose from $10 to $44 in a month, the search for a fair market price began. Looking at the chart, we can see aggressive buying of CAKEUSD from $3 After, buyers of PancakeSwap twice time bought back the price from the critical $3.60 level, giving him the status of a "mirror" Roughly speaking, we can say that a price zone of $3-5 is a zone of fair market price , which satisfies both buyers and sellers for the last six months. Therefore, in case of positive developments in the cryptocurrency market, we can expect the CAKEUSDT price to exit the falling channel. The first task of buyers is to break through and consolidate above $5.50. If this condition is met, in the medium term, you can start dreaming about growth to the region $8.75 - 9 If the wave of negativity again covers the crypto market and the price of CAKE drops below $3.60, then it is not worth buying CAKE again before $2.90-3. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
Long
by P_S_trade
49
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
$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
PancakeSwap Bull Market Can Return if it Breaks This LogarithmicPancakeSwap (CAKE) may not see a new bull market until it clears its weekly logarithmic trendline. At the same time, cycle-wise, the cryptocurrency seems to have completed an Elliott Wave flat structure that suggests that we're about to bottom. CAKE Logarithmic Trendline The downward sloping logarithmic trendline connects all the major swing highs, starting with the 2021 all-time high of $44.27. The logarithmic trendline also aligns with the 200-day simple moving average, which gives it more weight. In this regard, a breakout can lead to a shift in the trend direction. CAKE Elliott Wave Cycle CAKE’s price is currently trading near its historically lowest level, but based on the Elliott Wave analysis, CAKE's long-term price structure mimics a flat pattern. Flats are corrective patterns in nature with an internal 3-3-5 wave structure. The first wave ended at the $44.27 all-time high, followed by another 3 wave price structure in wave B, which ended at the $9.44 low. The cryptocurrency then resumed lower in wave C, subdividing into another 5 wave price structure. In the short term, the current low of $2.48 remains intact; the correction can be called completed. Following this EW cycle, the cryptocurrency may be in the process of bottoming out. However, the next bull run will be confirmed once the CAKE price clears the logarithmic trendline. Another sign of a shift in the market can be signaled by a breakout above the 50 mid-level of the weekly RSI oscillator. Once the logarithmic trendline is cleared, there is not much resistance underway until the $10 psychological level.
by cryptohopper