In this PancakeSwap technical analysis, we will examine the current price action, trading volume, key levels and indicators for CAKE-BTC. PancakeSwap is a decentralized exchange built on Binance Smart Chain that allows users to trade a variety of assets, including tokens and NFTs. CAKE is the native token of PancakeSwap, which can be used for trading fees, governance, and other purposes within the platform. With its user-friendly interface and low transaction costs, PancakeSwap has gained popularity among crypto enthusiasts looking for a seamless and secure trading experience.
PancakeSwap Price Overview:
As of May 04, 2024, 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) | 4e-05 |
| Low (L) | 4e-05 |
| Close (C) | 4e-05 |
| Volume (C) | 8,263.43 |
- Open (O): The opening price for today’s trading session was approximately 4e-05 BTC.
- High (H): PancakeSwap reached a daily high of around 4e-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 (%) | -1.02% |
| 3D Change (%) | -1.82% |
| 7D Change (%) | -1.52% |
| 30D Change (%) | -27.29% |
| 90D Change (%) | -25.26% |
| YTD Change (%) | -48.32% |
Over the past three days, CAKEBTC has fallen by approximately -1.82%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -1.52%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with CAKEBTC maintaining a downward trend of approximately -27.29%, despite intermittent fluctuations. Examining the last 90 days, CAKEBTC has witnessed substantial drop of approximately -25.26%, reflecting strong long-term confidence. Year-to-date, CAKEBTC has steadily dropped by around -48.32%, 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 0.26328.
- Momentum score is 0.01259.
CAKE BTC Technical Analysis
PancakeSwap Trading Volume:
The trading volume for PancakeSwap (CAKE) over the past 24 hours has been insignificant, with approximately 8,263.43 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 38.5174. 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 insignificant trading volume are low signals for potential downward movement.
Clearly see potential bearish trend for PancakeSwap (CAKEBTC) at 4.26e-05 BTC through detailed 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.