2022-07-07 20:08:03

PancakeSwap Technical Analysis: CAKE Spikes by $3.26

Key Technical Points CAKE is currently trading at $3.26 The trading volume is $52,350,117 The market capitalization is$2,442,640,957 CAKE Past Performance At the outset, CAKE experienced a downward trend from $8.243 to $ 3.687 on 12 May where the bulls and bears were in strict competition of taking control of the market. However, the price rebounded on 19th June as the market opened with a gap. Source: Trading View CAKE Technical Analysis According to Pancakeswap technical analysis, CAKE is currently trading at $3.26 which is a 2.98% price rise. The trading volume is $52,350,117 and the market capitalization is$2,442,640,957. The maximum supply is 750,000,000 while the total supply is 310,405,281 in all exchanges in the last 24 hours. The current market trend is positive with a slight uptrend starting from $21.000. It appears that the market has found some support at this level and might continue to move upwards in the short term. Despite this recent pullback, CAKE is still up. The Bollinger bands are squeezed which could lead to a breakout soon. The RSI is currently at 45.47 meaning that the market is currently in the neutral zone. The MACD is currently in a bullish pattern as the MACD bars form short and green bars. The MACD bar is trading slightly above the signal line, indicating that the bulls have the upper hand in the market. Out of the 26 technical indicators, 8 give a buy signal, 10 hold, and 8 sell signal. The oscill...

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