- CAKE token price is in an upward trend, which rose 15.70% during intraday trading.
- Pancake’s 24-hour trading volume is $329 Million.
- CAKE/BTC pair is trading positive by 15.26% at 0.0004055 BTC.
The daily technical chart of CAKE token price rebounded from the support level and is now trying to break EMA-200. According to the pivot point, the critical support level for CAKE is $10.50. However, if it does go higher, the key resistance level to be aware of is $24.10. In addition, the chart shows a bullish engulfing candle, which indicates bullish control over price movements.
The exponential moving average (EMA) made of 200-EMA assists as solid support for currency price changes. Investors can witness that the price is floating below the red line, so unless the price is lower than the EMA, it will ensure the downward trend of Pancake.
The Schaff Trend Cycle Indicator (bearish) at 19.45 represents a sell signal for the currency and indicates a bearish trend. In addition, investors may see a red sell signal and the downward slope of the index.
The volume of (275.K) is displayed below the volume of the 20-day moving average (460.78K). Traders are exerting moderate buying pressure to bring their price levels into the positive zone. Investors may also observe a drop in volume on the chart, which indicates that a big move is expected soon.
The Pancake (CAKE) Token Bulls Are Making A Comeback
The trading price of CAKE token is $13.20, with a daily profit of 15.70% and a weekly loss of -20.2%. In addition, the price recovered from the support level. The STC indicator shows a sell signal, and the trading volume gradually increases. Technically, the price shows weakening strength and is testing EMA-200. Therefore, the current trend remains bullish. Based on the overall market sentiment, the price may break through the 13.90 USD EMA-200 in the next few days.
Resistance: $24.10
EMA-200: $13.90
Support: $10.50