In this report, dated November 26, 2021, we have prepared the technical analysis of PancakeSwap (Cake), which was performed by the famous analysts of Cryptocurrency community, and we will share it you.
Recently , Bitcoin is being traded in the range of 54.4 to 59.2 thousand dollars, PancakeSwap is being traded today in the range of 12.15 to 14.7 dollars, a increase of 37.9% compared to yesterday.
Be with Cryptoleda 💚
CAKE – Watch For This Reversal!
CAKE is showing us some really clear price action and we are approaching a significant level where we are expecting a reversal. We’ve seen that we previously had a triple bottom from the structure level indicating that It holds a lot of weight.
– Watch for price to come back to the structure level ($10 level)
– Once price shows bullish pressure, enter with stops below the structure level
– Targets: 17 – 26 – 44
We may get an early breakout and if we do, enter with stops below the recent lows.
“Review by Altsignals”
CAKEUSDT: Another short opportunity on PancakeSwap?
Here’s medium-term outlook for CAKEUSDT.
CAKEUSDT broke out of the Rising Wedge pattern. Rising Wedge Pattern indicates a potential bearish movement ahead. The MACD indicator is crossing down below the zero level, it signify the potential bearish bias ahead.
The roadmap will be invalid after exceeding the resistance/target area.
“Review by financialfreedomgoals101”
Cake – Will double your money
CAKE is in falling wedge and is ready to move up. Bullish Divergence on RSI will give a good pump soon.
They are burning tokens and their TVL is ATH.
CAKE status and Conclusion
You did read about 3 analysts point of view, Just one of them was bullish on it! But remember this, technical analysis is not enough you have to check the news too, you have to check the leader coin (Bitcoin), Then you can clearly see what will happen next.
Thank you for your time! if you have any idea about CAKE you can comment down below.
Disclaimer: None of these Analysis is not Buy or Sell CAKE recommendation, And this article is just for educational purposes so please just use this article for validating your own technical analysis.