- The token has a 24 hours trading volume of 142,740,385 with a low of 10.09%.
- The price change from last day’s opening was down by 2.70%.
- The RSI oscillator suggests NEUTRAL action.
The BAKE token has been running below its 200 days moving average and also below its 50 days moving average. On 20-22 June the coin was trailing below its SMA-50 and thus it was a fine time to long the coin. Well as of now you can also buy this token but the returns would be slightly less.( For short term traders).
The BAKE token has performed quite well in the duration of China’s ban on the crypto market and has provided returns of nearly 62%. The trend moved upwards with the higher highs and lower lows and marked the high of 5.1788 and since then the trend is showing bearish movement and recently(on 22 June)the token marked the low of 1.5688.
The chart shown above describes the movement of BAKE with respect to SMA-20, SMA-50 and SMA-200 along with its RSI oscillator is also present. RSI for the last 5 hours shows the SELL action with the value of 41.544. Along with it MA-5 and MA-10 shows the same. MA-20 however shows the buy action. Even Bull/Bear power shows the same sell action and the value for it is-0.0847.
The BAKE-BTC pair is trailing at the level of 0.00006404 with the low of 8.27% and the coin-ETH pair is at 0.001126 and the low was 5.19% in the last 24 hours. The days range for the coin is 2.1665 – 2.3862 and right now it is at 2.22.
Conclusion: The token has been proven worthy enough to hold it and on an average it has provided returns of 15% in a week’s time frame. The token went below its 50 days moving average and below SMA-20 as well on 22 June and so it was a fine time to long the coin. As of now you can still buy it and expect returns in 2-4 days coming. However you might have to wait for a few more days for decent returns.
Technical Instruments:
Pivot: 2.2808
R-1: 2.29437
R-2: 2.3017
S-1: 2.2679
S-2: 2.2599
(Note: The unit is USD)