In this PancakeSwap technical analysis, we will examine the current price action, trading volume, key levels and indicators for CAKE-BTC. PancakeSwap (CAKE) is a decentralized exchange built on Binance Smart Chain. It offers users a wide variety of features, such as liquidity pools and lottery-style farming, that incentivize them to participate in the platform’s ecosystem. By leveraging these features, users can earn rewards in the form of CAKE tokens, which can then be used to access premium features or traded on cryptocurrency exchanges.
PancakeSwap Price Overview:
As of October 02, 2023, PancakeSwap is trading at approximately 4e-05 BTC. Let’s dive into the detailed price action for CAKE-BTC:
| Metric | Value |
|---|---|
| Open (O) | 4e-05 |
| High (H) | 5e-05 |
| Low (L) | 4e-05 |
| Close (C) | 4e-05 |
| Volume (C) | 93,321.54 |
- Open (O): The opening price for today’s trading session was approximately 4e-05 BTC.
- High (H): PancakeSwap reached a daily high of around 5e-05 BTC.
- Low (L): The daily low for CAKE-BTC was approximately 4e-05 BTC.
- Close (C): At the time of analysis, PancakeSwap is trading near its daily close of 4e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | 4.93% |
| 3D Change (%) | 2.76% |
| 7D Change (%) | 2.52% |
| 30D Change (%) | -6.68% |
| 90D Change (%) | -11.31% |
| YTD Change (%) | -76.72% |
Over the past three days, CAKEBTC has increased by approximately 2.76%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 2.52%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with CAKEBTC maintaining a downward trend of approximately -6.68%, despite intermittent fluctuations. Examining the last 90 days, CAKEBTC has witnessed substantial fall of approximately -11.31%, reflecting strong long-term confidence. Year-to-date, CAKEBTC has steadily decreased by around -76.72%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
PancakeSwap Live Chart:
You can access a live price chart for CAKE-BTC 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 0.23273.
- Momentum score is -0.06681.
CAKE BTC Technical Analysis
PancakeSwap Trading Volume:
The trading volume for PancakeSwap (CAKE) over the past 24 hours has been significant, with approximately 93,321.54 BTC traded against CAKE. 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): CAKE is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): PancakeSwap is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for CAKE-BTC is currently in the low zone, around 42.25972. This suggests that PancakeSwap is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
PancakeSwap (CAKE-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and significant trading volume are low signals for potential downward movement.
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.
