PancakeSwap Price: CAKE/USD indicates Bullishness, retest at $23 Resistance
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PancakeSwap price analysis, a new higher low was established today above $22 which is now bullish.
Due to this result, it is anticipated that CAKE/USD is set to create a new high to allow the $23 resistance.
The cryptocurrency market has been in a good condition for the last 24hours. Bitcoin has risen up by 3.5%, while Ethereum is up by 6.73%. Also, Dogecoin has been increasing by 11% and outperforming all other cryptocurrencies.
PancakeSwap price in the last 24 hours
Over the last 24hours, CAKE/USD is currently selling for $18.
Today, the price movement of PancakeSwaps price movement can be ascribed to a couple of factors: solid technical indicators and upcoming news.
On August 21st price action began to move increased upon the test of $23 resistance, which was verified at 4:30 UTC.
CAKE/USD technical indicators are also bullish. The Moving Average Envelope and Bollinger Bands is trending upwards.
CAKE sets to break $34
According to the fours chart, bulls gained more momentum as the PancakeSwap attempts to break through the $34 resistance. On Wednesday CAKE/USD increased from $17 to $20 before regaining lost.
In recent weeks CAKE/USD price has increased. Though 30% of the price has seen a new swing low of $18.5.
A Slight consolidation On September 7 was followed with the $18.5 support broken twice. While on September 13, CAKE increased to new heights, reaching a high of $23.
CAKE/USD’s price is between $22 and $25. $21 support level where it had previously broken through. PancakeSwap price is greater even with great potential and a significant barrier is $28.
Today PancakeSwap’s price increase is a new low set around $22 regaining their feet. CAKE/USD will break the $23 barrier and climb significantly. Cryptocurrency markets is likely to increase in the future.
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