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CAKE / TetherUS

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CAKEUSDT trade ideas

CAKE - Who Wants A Piece?Hello everyone, if you like the idea, do not forget to support with a like and follow. CAKE is sitting around a strong support zone in green and round number 10.0 so we will be looking for buy setups. on DAILY: CAKE is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated, CAKE would be overall bearish can still trade lower till the lower green support before going up. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
18
🔥 CAKE: Is The Dump Finally Over?The last time that I looked at CAKE was around a month ago. Here I argued that CAKE was one of the weakest tokens on the market currently and that more bearish pressure was mounting. Since my previous analysis, CAKE dumped even more and reached the area around the all-time lows since trading on Binance. Historically, this area of strong support has caused huge reversals for CAKE. With CAKE seeing a new reversal from said area, there's a decent chance that we're going to see more bullish price action in the coming weeks. Target for the current move would be the top resistance of the triangle, around $16. Happy trading!
Long
by FieryTrading
14
CAKE ( Pancake ) is at Major Support LevelCurrently pancake (CAKE) is trading at its major support level. This support level is very crucial for the CAKE to hold its double digit price. In the past this support level acted as bounce back price for pancake. If you are planning to add some CAKE to your portfolio then this is a good time buy and if the price goes lower then probably you can do DCA after that. You can also get 70+% APY by staking CAKE at pancakeswap exchange. Stay tuned for more updates.
Long
by GreenCryptoTrades
6
CAKE/USDT Analysis (Update)📈📉 📈📉 As you can see on the weekly timeframe for the pair of pancakeswap and usdt , it has faced a bearish market after reaching its ATH of about 44$,and fallen to its lowest level, and afar 2nd attempt and forming a new lower high that has filed to rise , again declined to bottom ,so now we know it'll need to break up the downtrend line which is already dynamic resistance by volume confirmation ,to start a new bullish rally as before , but because of recent demand and strong green box support, although it depends on your entry strategy for take a long positon , but in my opinion it'd be a good entry point , at least 1 step around here and if it drop more we can buy another steps about 10 $ again. ❌current weeky resistance : $18-20 ♻️current weeky support: $9-11 -------------------------------------------------------------------------------------------------------------------- tips: 💥(Note that most of my analysis on the weekly timeframe basis is more for long-term investment rather than short-term trading.) 🔰(Anyway, I highly recommend novice investors and traders to consider risk management and buying in a few steps) . ✳️(also Following security measures is vital in cryptocurrency trading. Always remember that $100 worth of a token may become a fortune someday. So treat every penny with respect.) -------------------------------------------------------------------------------------------------------------------- 👉This analysis is my personal opinion ,not a financial advice ,so do your own research. 💜 if you're a fan of my analyses PLZ follow me and give a big thumbs 👍 OR drop comment 🗯💭 🙏with Best Regards
Long
by PRO_SMART_Trader
PancakeSwap The #1 AMM : CAKEUSDT analysisThe #1 AMM and yield farm on Binance Smart Chain. ❇️ COINMARKETCAP's DATA : Rank #26 - kind: Token- On 169,833 watchlists - Market Cap :$6,394,389,110 Fully Diluted Market Cap: $6,558,725,629 Volume24h: $633,184,924 Volume / Market Cap : 0.05967 Circulating Supply :161,882,860 CAKE Total Supply: 161,882,860 What Is 🌟PancakeSwap (CAKE)🌟? PancakeSwap is an automated market maker (AMM) — a decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return. It launched in September 2020 and is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain. PancakeSwap uses an automated market maker model where users trade against a liquidity pool. PancakeSwap uses an automated market maker model, meaning that there are no order books and liquidity pools are used instead. A user can earn income by becoming a liquidity provide; by adding their tokens to the liquidity pool they can farm LP tokens and stake their CAKE to earn rewards. They can also try their luck with the lotteries and non-fungible tokens. The PancakeSwap token CAKE is a BEP20 token that originally launched on Binance Smart Chain. The main function of CAKE is to incentivize the liquidity provision to the PancakeSwap platform. Users can stake their tokens to earn rewards, which is done by depositing Liquidity Provider tokens and locking them up. This is known as farming and is rewarded by the system with CAKE tokens. The tokens can be un-staked with zero holding time. CAKE gives users the opportunity to invest and increase returns in the future but comes with risks. CAKE can be used to enter a lottery on PancakeSwap. Users can also win non-fungible tokens that can be traded for CAKE or kept in a wallet. ❇️Who Are the Founders of PancakeSwap? PancakeSwap is a Binance Smart Chain-based decentralized exchange (DEX) that was launched by anonymous developers with an apparent passion for pancakes. and always has been supported and recommended in twiter by CZ , ceo of binance . coinmarketcap- pancakeswap.finance ------------------------------------------------------------------------------------------------------------------ ✅TECHNICAL ANALYSIS As you can see in the daily time frame chart for CAKE/USDT, the price is trading at around $40 . It's been about two months since PancakeSwap was recently added to the market and I do not have a comprehensive analysis because it is usually technical based on the past but you can buy in the green support areas with more confidence and EMA 50 and 21 can also support the price .if the defi season starts I think It has a very high potential, which atleast must be placed in our watchlist . -------------------------------------------------------------------------------------------------------------------- (Anyway, my constant suggestion to my dear community is to buy step by step ( in a few steps) , With considering risk management , Because this crazy market is very volatile than you have never seen in other markets .) also Following security measures is vital in cryptocurrency trading. Always remember that $100 worth of a token may become a fortune someday. So treat every penny with respect. -------------------------------------------------------------------------------------------------------------------- 👉This analysis is my personal opinion and you are responsible for your own trades or invests. ❤️with Best Regards and successful trades 👍 PLZ support me and hit that damn like button and comment
Long
by PRO_SMART_Trader