In this BakerySwap technical analysis, we will examine the current price action, trading volume, key levels and indicators for BAKE-USDT. BakerySwap is a decentralized exchange built on Binance Smart Chain that enables users to trade a variety of assets in a trustless and permissionless manner. BAKE is the native token of the platform, which provides liquidity providers with rewards and incentivizes them to contribute to the ecosystem. With its innovative features and user-friendly interface, BakerySwap is poised to revolutionize the decentralized trading space.
BakerySwap Price Overview:
As of July 08, 2024, BakerySwap is trading at approximately 0.279 USDT. Let’s dive into the detailed price action for BAKE-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.2654 |
| High (H) | 0.283 |
| Low (L) | 0.2549 |
| Close (C) | 0.279 |
| Volume (C) | 60,431,038.40 |
- Open (O): The opening price for today’s trading session was approximately 0.2654 USDT.
- High (H): BakerySwap reached a daily high of around 0.283 USDT.
- Low (L): The daily low for BAKE-USDT was approximately 0.2549 USDT.
- Close (C): At the time of analysis, BakerySwap is trading near its daily close of 0.279 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 5.12% |
| 3D Change (%) | 33.30% |
| 7D Change (%) | -5.17% |
| 30D Change (%) | -7.37% |
| 90D Change (%) | -27.10% |
| YTD Change (%) | -41.34% |
Over the past three days, BAKEUSDT has experienced a significant surge of approximately 33.30%, indicating increased market volatility. Prior to this recent uptick, the asset had been in decline over the last week, with a loss of around -5.17%, suggesting a shift in investor interest. A 30-day analysis provides a more comprehensive view, revealing a downward trend of approximately -7.37%. Looking further back at the last 90 days, BAKEUSDT has witnessed a substantial decline of around -27.10%, reflecting a loss of long-term confidence. Year-to-date, the asset has continued to decline steadily by approximately -41.34%.
BakerySwap Live Chart:
You can access a live price chart for BAKE-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 1.73983.
- Momentum score is -0.30597.
BAKE USDT Technical Analysis
BakerySwap Trading Volume:
The trading volume for BakerySwap (BAKE) over the past 24 hours has been significant, with approximately 60,431,038.40 USDT traded against BAKE. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): BAKE is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): BakerySwap is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for BAKE-USDT is currently in the neutral zone, around 47.56105. This suggests that BakerySwap is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
BakerySwap (BAKE-USDT) is currently displaying short-term bearish momentum, with key support and resistance levels drawing attention. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities to emerge. Furthermore, the neutral RSI reading and significant trading volume are indicative of a sideways movement that may unfold.
Consider bearish sentiment for BakerySwap (BAKEUSDT) at 2.79e-01 USDT with technical analysis, highlighting weakened support and cautionary indicators.
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Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.