The CAKE price received an immense influx of liquidity a couple of days before which uplifted the price from the descending trend. The price may range high slowly and steadily and may maintain a significant uptrend. Therefore look forward to achieving the much-required zones around $10 initially and later $12.
Therefore, with just a few days left for the monthly close, the CAKE price may range high to close the trade above $8.41. Once these levels are secured, the next quarter may kick off on a bullish note. And hence a notable uptrend may be much expected in the upcoming days.
The CAKE price ever since smashed the Q4 2021 highs, fell into a deep bearish trap further. All the attempts went rejected which formed consistent lower highs and lows within a descending parallel channel. The current breakout currently may not be still validated until and unless the asset secures its position above $12.94.
The asset could eventually swing within the same pattern for another couple of days and with an opportunity of a strong rebound could seal the levels close to $15. The second half of 2022 is expected to be a little profitable and hence the levels above $21 may be secured. However, the ATH could be pretty tough considering the current pace but maybe tested somewhere during the next few years.
Additional Read: Top Crypto News Today, 22 March 2022.
|Date||All-Time High||All-Time Low||Market Capitalization|
|21 March 2022||$6.69||$6.2||$1.73B|
|20 March 2022||$6.48||$6.14||$1.79B|
|19 March 2022||$6.58||$6.25||$ 1.78B|
|18 March 2022||$6.76||$6.04||$1.78B|
|17 March 2022||$7.33||$5.53||$1.80B|
|16 March 2022||$5.63||$5.30||$1.51B|
|15 March 2022||$5.75||$5.31||$1.52B|
CAKE and BNB both showcase a huge diversified trend ever since the beginning of the 2022 trade. While BNB manifested a gigantic rally, the CAKE price maintained a slow yet steady rally. After both the asset decoupled since the beginning of the month, BNB price ranged high and maintained a strong uptrend above the average levels. On the other hand, the CAKE price hovered below these levels.
At the press time, the BNB price is above the average levels by 4.79% above the average levels whereas the CAKE price is below by 6.92%. Both the assets point out towards the north and hence a significant uptrend may be witnessed until the end of the weekly trade.
Additional Read: Uniswap vs Pancake Swap
The CAKE traded with the USDT pair showcases a huge strength compared to that of the BTC pair. No doubt both the pairs are hovering along similar regions, yet the BTC pair is currently drowning a little and hence could plunge a little until it finds strong support. On the other hand, the USDT pair after the recent breakout is expected to maintain the same strength to range high towards the immediate highs. The CAKE/USDT is below the average levels by 6.85% whereas the CAKE/BTC pair is below 16.70%.
Additional Read: PancakeSwap Technical Analysis.
Want to buy PancakeSwap(CAKE)? Then CoinDCX is the best-suited option!
CoinDCX, being the most reliable cryptocurrency exchange in India, prioritizes the user’s security at the maximum. And hence along with secure trades, CoinDCX offers faster order placements, multiple benefits, lucrative features, etc all at affordable rates. All you need to do is download CoinDCX App on your smartphone, enter the details and once the details are verified, fund your wallet and buy your desired crypto.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].
The above 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, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization 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.