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Dalmas Ngetich
Jun 2, 2022
by Dalmas Ngetich

BAKE Technical Analysis: BAKE Bulls Targeting $0.50

BAKE Technical Analysis

Table of contents

  1. Past Performance of BakeryToken
  2. BAKE Technical Analysis
  3. What to Expect from BAKE?
BakeryToken crypto is up 130 percent from 2022 lows. In a bullish breakout formation, BAKE coin prices may race towards $0.44 and March 2022 lows.

Past Performance of BakeryToken

BakeryToken is one of the top performers in the top 10, adding 11 percent versus the USDT. As per the BAKE technical analysis in the daily chart, buyers have the upper hand. Prices are trending above the middle BB for the first time in over seven weeks.

BAKE Technical Analysis

BakeryToken BAKE Daily Chart for June 1

BAKE coin prices are within a bullish breakout formation. From the candlestick arrangement in the daily chart, BakeryToken crypto prices are above the middle BB, a former resistance level now support. The break above the flexible reaction line increasing volumes saw BAKE prices float towards May 11 highs. Traders may look for buying opportunities at spot rates as long as prices are above $0.26. The immediate buy target is $0.44 or May 11 highs. Further gains may see prices rally to $0.50 and later $0.80.

What to Expect from BAKE?

BakeryToken coin prices are bottoming up, adding 130 percent from 2022 lows. At spot rates, bulls may find opportunities to double down, expecting a retest of critical resistance levels.

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BAKE Technical Analysis: BAKE Bulls Targeting $0.50
Dalmas Ngetich
Dalmas has been passionate about the blockchain and crypto space ever since he’s heard about it. As someone who’s been closely following the trends in the crypto space, Dalmas is excited about what lies ahead in this niche and is all set to explore it. While he’s been advocating crypto adoption for a number of years, he’s himself a HODLer, which makes his voice authoritative and credible.