- CAKE token price action is in an up move with a 7% gain on the intraday trading session
- CAKE/BTC pair is trading negative by % at 0.0005368 BTC
- The 24-hour trading volume in Pancake is $259.73 Million
The daily technical chart of CAKE token price is testing the Lead-2 of red Ichimoku Cloud. According to pivot points, CAKE’s critical support level is $10.56. Whereas if it moves upside, the crucial resistance to watch is $24.0. Besides, the chart also features an inverted hammer candle showing bearish reversal with medium reliability in the coin.
The Ichimoku Cloud, consisting of Lead 1 & Lead 2 with a displacement value of 1. It works as a pivot level and a leading indicator in the asset price move. Investors may witness the price is testing the lead 2 of red Moku Cloud, so until the price resides below the red Moku Cloud, it will assure a bearish trend in Pancake.
The CCI (Bullish) projects a buy signal with a value of 38, indicating a bullish scenario in the coin. Additionally, Investors can see an inclining slant from -101 to 38 in the index, which may stay in a bullish trend for coming trading sessions.
The volume of (287.72K) showcases below the Volume MA (1.19M) of 20-days. Pancake maintains a low buying pressure to drive its price level to the positive zone. Investors may also observe low volume in the chart, indicating a big move is expected soon.
Pancake (CAKE) Token Testing The Price Level Of $20.74
CAKE token price was trading at $20.68 with 5.5% positive daily and 23.2% negative returns in the weekly period. Furthermore, the price is testing the red Moku Cloud. The CCI indicator shows a buy signal, and Trading volume is getting low. Technically, the price shows little strength and is testing the Ichimoku Cloud. Hence, the trend remains bullish for now, as with the overall market sentiment.