Site icon CoinDCX-Blog

PancakeSwap Technical Analysis: CAKE Price Primed for a 40% Plunge Soon

Pancake Swap Price Prediction

Key Takeaways

PancakeSwap(CAKE)/USDT Technical Analysis at a Glance

The Pancakeswap price since the beginning of the month had maintained a notable uptrend and with a slight change in the trend, entered a consolidation phase. Yet as a strong breakout time approached, the asset quickly plunged and is maintaining a similar trend. No doubt the CAKE price is currently attempting to rebound, yet the bears are testing the trend now and then. 

Short-Term The CAKE coin price is maintaining a notable uptrend after bouncing from the lower support which may be continued until the asset hits the immediate resistance at $7.3
Mid-Term After plunging heavily, the CAKE price has just flipped the bearish trend and may continue to soar high, accumulating huge buying volume
Long-Term  The price maintained a notable consolidation by accumulating notable buying volume since the beginning of February and currently showcase some signs of exhaustion that may drag the price a little lower

PancakeSwap(CAKE) Technical Indicators & Pivot Levels

Technical Indicators

Technical Indicators Value(1Hr / 1D) Action (1Hr / 1D)
Relative Strength Index(RSI) 57.05 / 37.83 Buy / Sell  
MACD(12,26) 0.017 / -0.459 Buy / Sell 
Average Directional Index(ADX) 46.067 /  36.29 Buy / Sell 
Bull-Bear Power 0.1340 / -0.859 Buy / Sell 

The CAKE coin price in the short term is extremely bullish as almost all the indicators are pointing towards a buy signal. The RSI is currently around the middle ranges and ranges high with huge intensity while in the higher time frame the indicators are plunging hard. Also, the MACD is bullish in STF as a notable amount of buying volume has accumulated. But in the higher time frame, the exhaustion of buyers is seen as the selling volume is mounting slowly. 

On the other hand, the ADX which determines the strength of the rally is rising slowly high indicating the growing strength in the rally while in the long term, the ADX is plunging denoting the weakness of the rally and hence a considerable amount of plunge may be fast approaching. And at last, the bull-bear power is bullish in STF and Bearish in HTF. 

Pivot Levels

Pivot Levels Short-Term Long-term
Moving Average(MA)-50 $7.059 $8.76
Moving Average(MA)-200 $7.68 $15.66
Resistance $7.79 $20.96
Support $6.69 NA

The current price of CAKE coin is around $7.15 which is just above the 50-day MA levels in the short term and attempting to range high to hit the 200-day MA levels. Once these levels are cleared, then the CAKE price may test the short term resistance. These levels are pretty important to test as a notable uptrend may be certified above these levels which may rally high and test the long-term 50-day MA levels. However, considering the current trend, a significant uptrend may not be set in place as the possibilities to discover new lows beyond the support levels surface. 


Oscillators Short-Term Long-Term
Stochastic Oscillator 54.38 / 33.6 Neutral / Sell
Ultimate Oscillator 57.62 / 36.47 Buy / Sell
Average True Range(ATR) 0.0736 / 0.44 Less Volatility / Less Volatility
CCI 87.84 / -149.9 Buy / Sell

The Stochastic Oscillator determines an average price in a predetermined time frame which is pretty neutral currently but bearish in the long -term. On the other hand, Ultimate Oscillator, considers 3 different MA levels, 7, 14 and 28 and lets out the overbought and oversold levels. It’s bullish currently as the levels are rising towards the north while it’s bearish in the long term signifying a descending trend. 

The volatility indicator, ATR, is pointing out the asset to be less volatile in both the time frames. And hence no drastic change may be expected shortly. Also, the CCI which is a trend indicator suggesting the trend reversals or the beginning of new trend is bullish currently while bearish in the long time frame. 

Additional Read: Pancake Swap vs Uniswap 

CAKE/USDT Technical-Analysis for Short-Term

Source: Tradingview

Additional Read: Top Crypto News Today, 23 Feb, 2022

CAKE/USDT Technical-Analysis for Long-Term

Source: Tradingview


PancakeSwap Technical-Analysis for Today: 22 February 2022

After undergoing a U-shape recovery a couple of days back, the asset fell into a deep bearish trap on 21 February. The price fell more than 13% to mark the lower lows and quickly ignited a rebound recovering nearly 7% of the losses. The bear yet again attempted to slash the price but failed miserably as the buyer uplifted the price towards its initial positions. 

However, the technicals and the market sentiments both are not extremely bullish and hence no doubt the price may take a move towards the north but eventually end up discovering new lows. The CAKE price at the press time is $7.17 with a jump of 3.25% compared to the previous day’s close. The trading volume has dropped massively by more than 28% and the market capitalization has risen by 3.39%, ranging very close to $2 billion. 

Where & How to Buy PancakeSwap(CAKE coin)

Want to buy PancakeSwap? Then you are at the right place. CoinDCX is the final destination for those who are in search of a trustworthy platform with the most advanced features and attractive benefits. CoinDCX is designed to be more user-friendly but at the same time be more safe and secure. To get started all you need to do is just download the CoinDCX, crypto investment app on your Smartphone and enter the required details. Once the platform verifies the details, fund your wallet and start trading! Simple!

Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalisation indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


Exit mobile version