- The CAKE crypto price is in a downtrend, around -1.9%, during the intraday trading session.
- The 24-hour trading volume is at $312 million.
- CAKE/BTC pair is trading negative by -0.4% at 0.00044608 BTC.
Daily technical chart and price trend of CAKE crypto price are showing a bearish trend. Based on the pivot level, the first support zone is 16.35 USDT. From another perspective, if it rushes, the resistance level to watch is 25 USDT. Thus, the graph made a bullish harami candle pattern during the day, and the cost is relied upon to remain upside with unwavering medium force.
The Moving Average Exponential (EMA) Ribbon, comprising of different Ema’s, goes about as solid support in the coin price move. Investors might notice the cost slips below the green ribbon and 200-EMA, so it will guarantee a downswing in PancakeSwap until it’s below the ribbon.
Trading volume (1.24 M) is underneath the 20-day moving average (3.668 M). To put it plainly, the volume is moderate, making the cost struggle at the support levels. Investors can likewise check that the volume bars on the graph are slanting, which demonstrates that exceptional instability is expected in the following trading days.
The RSI indicator gave a signal (bearish) with 42, projecting a selling signal in the currency. Investors can observe an inclined slope from 38 to 42. It can arise in future trading sessions.
CAKE Crypto Requires High Volume For a Pullback
PancakeSwap price today is $18.85 with a 24-hour trading volume of $312,498,796. The price of the CAKE has fallen by -1.9% in the last 24 hours. It has a circulating quantity of 220 million CAKE coins and a total quantity of infinite. The RSI points to a selling indication, and the traders have prompted moderate volume. In fact, the cost is around the support regions. In like manner, with the general market perspective, the pattern stays bullish for coming trading days.
Resistance Level: $25
Support Level: $18