What Traders Can Expect From PancakeSwap (CAKE) In Coming Days
PancakeSwap (CAKE) is one of the cryptocurrencies in the green for today. The market tracking website CoinMarketCap indicates that CAKE is currently trading hands at $4.11 after a 2.32% increase in price over the last 24 hours. The crypto was also able to reach a high of $4.15 and a low of $4.00 over the same time period.
In addition to this, CAKE’s weekly performance is also looking good as the crypto is up by more than 6% over the last seven days. CAKE was also able to strengthen against the two biggest cryptos in the market, Bitcoin (BTC) and Ethereum (ETH), by about 0.28% and 0.18% respectively over the last few days.
Also in the green zone is CAKE’s 24-hour trading volume which currently stands at $43,484,798 after a more than 8% increase since yesterday. The crypto’s market cap currently stands at $711,675,872, which makes CAKE the 64th biggest cryptocurrency in terms of market capitalization. This places it right behind eCash (XEC) in the 63rd position and in front of Trust Wallet Token (TWT) which is ranked 65th.
CAKE / Tether US 1D (Source: TradingView)
When looking at CAKE’s daily chart, it is evident that the 9-EMA line is still positioned bullishly above the 20-EMA line. This could indicate that the momentum is still in favor of the bulls.
On the other hand, it also seems like the CAKE price has formed a resistance around the $4.105 level. If the price of CAKE closes today’s trading session above this level, the price of the crypto could rise even more. On the other hand, if CAKE’s price closes below this level, it could fall to the support around $4.037.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.