PancakeSwap Technical Analysis: Bulls Gain by 7.83%
Table of contents
Technical Key Point
PancakeSwap Past Performance
PancakeSwap's price has increased by 7.83% in the last 24 hrs, and its volume of trading is $168,344,066.42. The highest price in the last 24 hours was $4.84 while the lowest was $4.34, a difference of $0.50 or 11.77%. PancakeSwap's price is currently $4.77, which is 5.37% higher than its all-time low of $4.51 on March 25th. Looking at the PancakeSwap chart below, we can see that it has had an impressive run since mid-March, when it bottomed out at $4.51. From there, it has steadily climbed to its current price of $4.77, which is a new all-time high.
Source: Trading view
Cake Technical Analysis
According to CAKE technical analysis, the coin is facing immediate resistance near $4.80 and $5.00. Above this, the next major hurdle for buyers lies near the $5.20 level. A successful close above the $5.20 level could lead the price towards the $5.50 level in the near term. On the downside, there is major support forming near the $4.60 level. If there is a downside break below the $4.60 support, the price could decline towards the $4.40 level. The next key support below $4.40 is near the $4.20 level.
The RSI indicator is currently well above the 46 levels, with a bullish angle. This suggests that there is upside momentum in the market. The MACD indicator on the daily chart is currently gaining traction in the bullish zone. as the Signal line is currently below the MACD line. The technical indicators show 10 buying signals and 7 sells signals and 9 holds while the oscillators show 3 overbought signals and 8 holds. PancakeSwap currently has a market capitalization of $3,518,001,846.87 and is ranked #64 on CoinMarketCap.
PancakeSwap Upcoming trend
Looking at the chart, we can see that PancakeSwap is in a strong uptrend and looks poised to continue higher in the near term. The next major resistance levels to watch are $5.00 and $5.20. Overall, CAKE looks bullish on the charts and it could continue to rise in the near term. However, if the price breaks below $4.60, it could start a new corrective wave.