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Pancakeswap On Uptrend! This Could Trigger CAKE Price to Hit ATH

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Cake Price Action

CAKE Token is currently trading at $20.56, with a market capitalization increase of 4.53 percent in the last 24 hours. The intraday trading volume, on the other hand, has surged by 95% in the last day, indicating an increase of purchasers.

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The resistance levels for the token, according to pivot points research, are $20.5 and $25. As a result, if the price reverses bearishly, sellers may face resistance near $17.5 or $15.

The 4-hour chart of the CAKE Price shows a bullish breakout of the resistance trendline. Furthermore, the price increase is accompanied by an increase in trade volume. As a result, if the price remains above the resistance trendline, a bull run is possible.

As the slope increases higher in neutral territory, the RSI indicator predicts a little increase in underlying bullishness.

The MACD and signal lines in the daily chart are moving higher above the neutral area, indicating that the MACD and signal lines are heading higher. As a result, the token price is showing strong momentum.

Also Read : Mark Cuban Sees Big Ups for Ethereum! What’s Next For ETH Price?

CAKE to climb back to ATH!

Binance’s planned $1,000,000,000 growth fund, according to the pseudonymous crypto analyst Loma, might rekindle Binance Smart Chain’s popular decentralized exchange Pancake Swap (CAKE).

He informs his Twitter followers that CAKE might return to its former all-time high of $44, implying that Binance’s expansion fund could be a catalyst.

On Tuesday, Binance revealed that it had secured $1 billion in funding to develop the Binance ecosystem. The growth plans include committing $100 million to the Liquidity Incentive program, which would pay liquidity prizes to certain protocols based on innovation, total value locked (TVL), active users, or trading volumes, in addition to adding flexibility and assistance for professional traders.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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