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- 1 CAKE crypto price broke above the key moving averages showcasing bullishness.
- 2 PancakeSwap price has grown by almost $16.21 this week suggesting that buyers are active.
PancakeSwap cryptocurrency price experienced massive buying and extreme support from buyers. The price surged 16.21% to the $4.7 resistance by forming a higher high structure.
CAKE price prediction has turned bullish and suggests recovery might continue in the coming months. It has displayed bullish momentum in recent sessions.
PancakeSwap price has witnessed slow and steady growth since March 19 and has gained approximately more than 16%. The price has been forming new higher highs and higher lows. According to the analysis, the CAKE price forecast for this month will remain positive.
The PancakeSwap crypto price is forming a higher high swing structure on the daily chart of the crypto. CAKE crypto has taken support from the lower support levels and bounced back.
At press time, the PancakeSwap crypto price was trading at $4.592 with an intraday gain of 3.76%, indicating bullishness on the charts. It has a monthly return of 40% and 31% yearly. It has a market cap of $1.13 Billion. Analysts are bullish and suggest the CAKE price will attain higher levels in upcoming sessions.
Over a week, PancakeSwap crypto has experienced an increase of approximately 16.21%. Moreover, the coin has grown by almost 40.56% in a month, and 27.52% in the last 3 months. It gave a return of 292.70% in the last 6 months and grew by 31.78% year to date. The data shows the bullishness in the price.
PancakeSwap Crypto Price vs Volume Analysis
The volume and price graph displayed that the trading volume has increased in the last few days and the price has also inclined. In the last few days, the price has grown significantly. Hence, the price is expected to grow in the long term.
PancakeSwap Crypto Social Dominance vs Social Volume
Based on the social dominance and social volume chart, the social dominance and social volume have been decreasing for the last few months which has left a negative impact on the price. Moreover, the momentum of the PancakeSwap price may depend upon the change in social dominance and volume dominance.
Summary
PancakeSwap price prediction is bullish for the short term till it sustains above key support levels. It displayed a bullish momentum which further boosted the confidence of investors. The technical analysis suggests that the CAKE price will go back into an uptrend and the bullish momentum might continue in the coming months.
Technical Levels
Support Levels: $3.6700 and $2.799
Resistance Levels: $5.00 and $6.00
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
