CAKE USDT PancakeSwap Technical Analysis

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By Frans van Elst

PancakeSwap logo In this PancakeSwap technical analysis, we will examine the current price action, trading volume, key levels and indicators for CAKE-USDT. PancakeSwap is a decentralized exchange built on Binance Smart Chain that allows users to trade a wide variety of assets in a trustless and permissionless manner. CAKE is the native token of PancakeSwap, which can be used for trading fees, liquidity provision, and other purposes within the platform. With its user-friendly interface and innovative features, PancakeSwap has quickly gained popularity among cryptocurrency enthusiasts and traders alike.

PancakeSwap Price Overview:

As of May 26, 2024, PancakeSwap is trading at approximately 2.957 USDT. Let’s dive into the detailed price action for CAKE-USDT:

Explore PancakeSwap’s (CAKEUSDT) potential for growth at 2.96 USDT as technical analysis leans bullish, emphasizing strong support and promising indicators.

Metric Value
Open (O) 2.991
High (H) 3.0
Low (L) 2.953
Close (C) 2.957
Volume (C) 1,318,198.36
  • Open (O): The opening price for today’s trading session was approximately 2.991 USDT.
  • High (H): PancakeSwap reached a daily high of around 3.0 USDT.
  • Low (L): The daily low for CAKE-USDT was approximately 2.953 USDT.
  • Close (C): At the time of analysis, PancakeSwap is trading near its daily close of 2.957 USDT.
Metric Value
1D Change (%) -1.14%
3D Change (%) -0.20%
7D Change (%) 14.43%
30D Change (%) 7.96%
90D Change (%) -9.43%
YTD Change (%) -14.83%

Over the past three days, CAKEUSDT has declined by approximately -0.20%, showcasing increased market volatility. Throughout the last week, it continued to increase, with a gain of around 14.43%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with CAKEUSDT maintaining an upward trend of approximately 7.96%, despite intermittent fluctuations. Examining the last 90 days, CAKEUSDT has witnessed substantial fall of approximately -9.43%, reflecting strong long-term confidence. Year-to-date, CAKEUSDT has steadily decreased by around -14.83%, 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-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 0.47144.
  • Momentum score is 0.08833.

CAKE USDT Technical Analysis

PancakeSwap Trading Volume:

The trading volume for PancakeSwap (CAKE) over the past 24 hours has been insignificant, with approximately 1,318,198.36 USDT 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 above the 50-day SMA, indicating short-term bullish momentum.
  • 200-day Simple Moving Average (SMA): PancakeSwap is also trading above the 200-day SMA, indicating a positive long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for CAKE-USDT is currently in the neutral zone, around 49.8207. This suggests that PancakeSwap is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

PancakeSwap (CAKE-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.

Explore PancakeSwap’s (CAKEUSDT) potential for growth at 2.96 USDT as technical analysis leans bullish, emphasizing strong support and promising indicators.

Take the next step in your exploration by delving into our detailed insights on CAKE BTC PancakeSwap Technical Analysis; it’s a natural follow-up if you enjoyed this post.

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.

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