- PANCAKESWAP Coin observed a growth of 45% in the last three days which led the price higher than the previous high of $28.20
- The cost of the PANCAKESWAP coin is just above the $28 mark and building up more buying volume
- A growth of 15% could be expected after a retest of this breakout.
Source – tradingview
PANCAKESWAP COIN has been making higher highs and moving between the Fibonacci levels for more than 2 months now. The 45% growth in the last 3 days took after the price found support near 200 EMA (white) in the 4-hour timeframe. The 0.382 Fibonacci level also provided support to the pullback of the CAKE Coin price and pushed the price back up. The market capitalization of the PANCAKESWAP coin is $4,307,577,013 (+23.53%) and the 24 hour volume of the coin is $1,322,054,137 (+153.62%).
Parallel channel growth might increase sweetness for investors.
The CAKE COIN price has been growing in a parallel channel for almost a month now. The recent breakout of the previous high might be the start of a new uptrend; a short consolidation is expected before this. The $19 and $22 support levels have helped the price find support in this growth. The price has breached the resistance level of $26, and the retest is expected. However, a rejection from this level could drive the price back to the $22 level.
The price is above 20(blue), 50(yellow) & 100(green) EMA implying an uptrend in action. The RSI indicator level is closing near the overbought zone, indicating a correction soon. The ADX indicator has spiked a little showing a gain in momentum of an uptrend.
Conclusion: Early traders must wait for a retest, whereas a possibility of rejection should also be considered. The price is near a stiff resistance level which could disrupt the bulls.
Support – $19 and other mentioned levels