Price Predictions

UNI Price Surges by 2% while CAKE Price is Down by 93.22%. Which May Be the Best Bet Right Now?

UNI price vs CAKE price

Key Takeaways:

  • Uniswap price plunges below INR 450 after the prices fell by more than 2% compared to the last trading day
  • On the other hand, CAKE price also tanks hard by more than 3%, while the price appears to headstrong towards INR 200
  • While both the assets are plunging notably, and hence it would be interesting to watch which of them will flip the bearish trend at the earliest

How High will PancakeSwap (CAKE) Price Go in May 2022 

CAKE price from nearly a year is maintaining a huge descending trend while the resistance and support levels appear to have dropped considerably.  However, after a brief consolidation, the price dropped hard by more than 50% since the beginning of the present day’s trade. Therefore, a significant upswing may be expected for the assets ahead.

The CAKE price has dropped heavily since the beginning of its trade when it was priced around INR 3000. However, these targets appear to be very hard for 2022. Yet the possibility of the price achieving INR 500 by the end of May’s trade emerge. Woefully, the asset may face rejection as it jumps above INR 500.

Check our prices, charts, and data of CAKE/USDT

How High will Uniswap (UNI) Price Go in May 2022 

After a deep fall from INR 3000 to as low as INR 970 in 2021, the price maintained a strong downward trajectory to reach the levels below INR 500 at the moment. No doubt the price is currently consolidating from the past couple of days, eventually, they may breakout towards the north. 

However, the strength of the rally seems to be pretty weak and hence no gigantic surge may occur, rather a minor spike, just to halt the bearish trend. Therefore, the UNI price could jump by another 30% to 40% as a notable buying pressure has mounted. And once the levels above INR 600 are reached, a notable rejection may drag the price lower again

Check our prices, charts, and data of UNI/USDT

PancakeSwap(CAKE) Technical Analysis 

Source: Tradingview

  • The PancakeSwap price for a pretty long time has been swinging within a falling wedge, which is a bullish indicator 
  • However, before the price spikes out of consolidation, the asset appears to undergo yet another price drop close to INR 200 before igniting a strong bull run towards INR 600
  • Despite a jump in the price, the asset may not slice through the pivot resistance at INR 600 and could retest the lower support again.
  • Here, the price needs to hold the levels above INR 430 to INR 450, as a plunge below these levels may compel the price to hover within the same bearish well

Additional Read: 5 Things Investors should do during a Crypto Market Crash

Uniswap (UNI) Technical Analysis 

Source: Tradingview

  • Much similar to the CAKE price, the UNI price also maintained its swing within a significant descending channel
  • The recent drop had dragged the price below the descending trend line and currently, it is attempting very hard to regain the levels above the line
  • However, further, the price is expected to hover within these levels for some time until it reaches the apex and finally breakout towards the north
  • As mentioned previously, the strength of the rally is pretty weak and hence we cannot expect a gigantic upswing, but a decent uptrend may be incoming

CAKE Vs UNI: Comparative Analysis

Comparison Basis  PancakeSwap (CAKE) Uniswap (UNI)
Launch date  September 2020 November 2018
Founders Anonymous Hayden Adams
Blockchain protocol  Binance Smart Chain Ethereum 
Token type  Native Governance
Use case Decentralized exchange Decentralized exchange
Market Cap* $901,011,980 $4,069,193,290
Circulation Supply** 186,702,967.73 CAKE 718,839,310.93 UNI
Consensus method Delegated PoS (proof-of-stake) and PoA(proof-of-authority) PoW (Proof-of-work)

MarketCap* and Circulation Supply** as of 24 May, 2022

Additional Read: CAKE vs UNI: Comparative Analysis


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.


 

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