- The BAKE coin continues to move inside the descending triangle after the price reversed from the $8 level.
- The coin is trading closely with the 20 and 50 EMA, in the 4-hour timeframe, with slightly increasing buying volume.
- The pair of BAKE/BTC is trading at 0.0001026 BTC, with an intraday move of +1.35%.
BAKE token price is resonating inside a descending triangle, in the 4-hour timeframe. The price had started an uptrend but eventually fell from the $8 level, and found support at $5. The price is just trading above 50 EMA (red ), in the 4-hour timeframe, implying the bulls have not lost yet. Investors must note the slightly increasing buying volume before siding with the bears. The live BakeryToken price today is $5.79 with a 24-hour trading volume of $158,427,769. BakeryToken is up 3.16% in the last 24 hours. The current token ranking is #98, with a live market cap of $1,093,246,060.
Basics one must know about BakeryToken
What is BakerySwap?
BakerySwap is a Binance Smart Chain (BSC) based decentralized automated market-making (AMM) protocol. The BAKE token is a native BEP-20 governance token on the platform. Users can earn BAKE tokens by providing liquidity on BakerySwap
How is BakerySwap unique?
The BAKE-BNB pool is expected to provide ten times the rewards compared to other pools. BakerySwap charges a 0.30% fee on all swaps and trades, out of which 0.25% go to liquidity providers.
Comparison with PancakeSwap
BAKE delivers liquidity pools for altcoins such as LINK, DOT, and others.
BakerySwap charges a 0.30% fee on all swaps and trades.
The BAKE-BNB pool is anticipated to provide ten times the rewards compared to other pools.
Conclusion- BAKE token proceeds to move inside the descending triangle. Investors must note the increase in buying volume, which increases the possibility of the breakout. The fundamental resemblance of PancakeSwap and BakeryToken increases the possibility of BAKE reaching heights similar to that of Pancake.
Support – $5
Resistance- $8