PancakeSwap Price Analysis: Will CAKE Surge to hit $5.04


  • PancakeSwap price analysis is bullish today.
  • CAKE/USD is confronted with resistance level of R1 at 5.04 dollars.
  • PancakeSwap gain bullish momentum over the past week gaining 0.8%.
  • PancakeSwap currently trades near $4.62

03 October 2022 : In this article we will walk you through PancakeSwap price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for PancakeSwap, Is CAKE a good investment? PancakeSwap support & resistance levels etc. But before diving deep into the CAKE technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $942,458,512,284. The total trading volume stands at $55,235,219,316. Bitcoin shares 39.8 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,557.65 level after an upward movement of 1.84%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.18 percent reaching to $1,325.92 during the previous 24 hours.
While publishing this blog, BNB traded at $288.29, following a price change of 1.74% within the same time frame. XRP the native coin of XRP is down by -0.44 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.54% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

PancakeSwap Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of PancakeSwap (CAKE)

CAKE Resistance Levels CAKE Support Levels
Resistance Level 1 $5.04 Support Level 1 $4.41
Resistance Level 2 $5.38 Support Level 2 $4.12
Resistance Level 3 $5.68 Support Level 3 $3.78

PancakeSwap Performance

The price of PancakeSwap (CAKE) is at $4.62, up 1.66% in the past 24-hours and has a price change of 0.8% over the week. One day trading volume for BTC is 51,954,589.00 USD while total marketcap reached $645,753,179.00 USD. There are almost 139,624,897 are in circulation out of 331949806.

PancakeSwap Price Analysis

CAKE price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the PancakeSwap.

Moving Averages Price Indicator
Simple Moving Average (10) 4.65 Sell
Exponential Moving Average (10) 4.63 Sell
Simple Moving Average (20) 4.46 Buy
Exponential Moving Average (20) 4.46 Buy
Simple Moving Average (50) 4.22 Buy
Exponential Moving Average (50) 4.23 Buy

The relative Strength Index (RSI) indicates that the CAKE coin is in heading towards overbought zone, as RSI is at 60. The MACD line is standing above of the signal line after a positive crossover. PancakeSwap investors need to wait for any directional change over the daily chart. In accordance with the conventional pivot, the crucial immediate resistance for CAKE may be found at $5.04, followed by $5.38. In the meantime, the cryptocurrency's support levels were located at $4.41 and then $4.12. While CAKE’s Williams %R indicator is at -53.044 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

As of now, PancakeSwap is doing well and is attempting to break out of the reddish zone. In order to invest in the digital currency, crypto investors want to see the CAKE move into the positive zone. As far as we can tell, PancakeSwap is on its way up. In 2022 and beyond, the PancakeSwap price has a significant likelihood of rising. It's important that you do your own research before making a decision on whether or not this is a smart investment for you.