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CBerry | Post - CAKE Technical Analysis: There Is High Selling Pressure
Cryptocurrency

CAKE Technical Analysis: There Is High Selling Pressure

CAKE is a Defi application that allows investors to exchange tokens, while also providing liquidity through the farm and earning fees in return.

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Bonarous

Turkey

  • 3rd, August 2021 (9 months ago)
  • $ 0.31723778
  • 3
  • 149 Views
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It is a relatively new cryptocurrency since it was launched in September 2020. The PancakeSwap platform uses an automated market maker (AMM) where traders trade. Since CAKE is the crypto currency I keep the most in my wallet, I constantly follow it. Let's move on to CAKE technical analysis.

Recent performance
A month ago, on July 2, CAKE was trading at $13.73. As of August 2, 2021, the price is $16.12. In the last 24 hours, CAKE has been trading between $15.59 and $16.67. About 1.10% below the day's opening price. If the decline continues, the price could soon test the $13.32 support level.

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3 comments

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luis1410
9 months ago
Especially when BNB and CAKE were farmed together, there were people who made extraordinary profits.
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luis1410
9 months ago
CAKE brought good returns to its investors last year.
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Bonarous
9 months ago
It can be expected to take the support of the $14.22 Fibonacci level soon. If this $14.22 support is broken, it could retest the long-term support level of $12.11.

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