Analytics

CAKE Price Prediction – Technical Analysis

PancakeSwap is a decentralized exchange running on Binance Smart Chain, with lots of  features that let you earn and win tokens.

Like Uniswap is for Ethereum, PancakeSwap is for Binance Smart Chain. The difference is that it is much faster and way cheaper as it is built on BSC. PancakeSwap wants to maximize the feedback loop of earning, staking, and earning again and BSC’s superior speed and much lower transaction fees let them do this. This will definitely start affecting CAKE price.

Let us have a look at some of the feature of PancakeSwap.

Trading

PancakeSwap is an Automated Market Maker (AMM) that allows two tokens to be exchanged on the Binance Smart Chain.

Earn

You can earn CAKE with yield farms, earn CAKE with Staking, and earn even more tokens with Syrup pools. You can click on the links above to view details of the same.

Win

PancakeSwap has a lottery system which rewards its users with big wins through a PancakeSwap Lottery daily. You can find more details about the same here.

Let us review CAKE Price.

CAKE/USD – Price Prediction

CAKE has broken the resistance at $18.98 and created a new All Time High after retracing back to the lower fibs. As long as CAKE stays above $18.98, we could start seeing a move towards $22.75, $24.77, $30.60, $40.03 and $49.49. Failure to hold the support at $18.98 could lead to a drop towards $17.08 and $15.34.

CAKE is trading at $20.70 with a market cap of $ 3,082,923,982. Its 24 hour trading volume was $ 824,006,175.

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Images courtesy of TradingView.

Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

   

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