- CAKE token price retraces back within the range between $23-$26.
- The 20-days EMA support the price retracement and pushes it back higher.
- The token pair CAKE/BTC trades at 0.0004777 BTC with an intraday fall of -2.00%.
The CAKE Token price trades sideways within the consolidation range between $26 and $26. Pancake swap token price finds support near the 20-days EMA that has helped the price find demand to resonate further in the accumulation zone.
In the past few days, the growth in CAKE prices and overall buying pressure casts a strong uptrend possibility that may help the prices sustain above $26. Hence, investors may find a sweet entry with low risk at the breakout of $26.
The CAKE token price is currently exchanging at $23.77, with a +2.71% increase in the market cap inside the past 24 hours, proposing a slight rise in bullishness that may soon become higher.
The intraday trading volume in CAKE has fallen 10% in the preceding 24 hours, designating a slight decrease in the number of buyers.
Token price at a critical resistance level with declining trading volume projects that the price is making it or breaking it point.
CAKE Token Prices Ready To Head Higher
The CAKE token price proceeds to move under the $26 and is currently trading near the $23 support level. However, the token price may soon reverse to the resistance level as the bullish momentum boosts.
The pivot point standard implies that the CAKE coin price could support the $20 mark and the $18 mark. However, if the bullish trend advances, resistance at the $26 or $30 mark could shift the trend momentum.
The 4-hour technical charts show that the price trades overhead the crucial EMAs, projecting a substantial uptrend. Moreover, recent bullish crossovers have led to a bullish formation of EMAs Pancake swap’s technical chart.
The RSI indicator is bullish as it symbolises an increase in the underlying bullishness.
The ADX indicator designates a hike in price trend momentum.
Conclusion: CAKE Token is currently in a sideways trend. It could soon retrace a little before refuelling the bullish momentum. However, investors should not make speculation-based bullish entries and wait for a retest or for the price to rise above the resistance level.
Support: $20 and $18
Resistance-$26 and $30