PancakeSwap Price Analysis: The CAKE coin price is ready to see a breakout for a new high

• The CAKE coin price is currently experiencing a strong upward momentum that may soon take it to a new high. It trades at a profit greater than 0.3% in the intraday session.
• Pancake technical indicators suggest an upward momentum for the future. In contrast, the CAKE / BTC pair is up more than 0.5% in the past 24 hours.

The price of the CAKE coin is currently experiencing a sharp breakout and may soon jump above the $ 25 mark. The pancake price is a forex trade near the $ 19.85 level and has increased more than 0.3% in the past 24 hours. CAKE Coin has an ROI of more than 1770% that investors benefit from for a very long time. It is currently more than 55% below its all-time high, but it may exceed it soon. Pancake’s upward momentum could push the price to new highs. A huge growth of the asset can be forecast for the future.

The market dominance of pancake along with the market capitalization is experiencing a strong recovery and may soon reach previous levels. The volume of the coin is also experiencing a sharp increase and can act as a powerful catalyst for price. The volume to market capitalization ratio of the CAKE suggests strong upside momentum. You can invest in pancakes depending on your needs and risk tolerance.

Technical indicators of the CAKE coin price suggest a strong upward trend

Source: trade view

The pancake swap price is currently experiencing strong upside momentum on the weekly technical chart. In the technical weekly chart it has fallen by more than 3%. On the daily chart, the price has formed a strong supply zone. The resistance of the CAKE as it goes up can be seen at $ 25. The coin’s support on the downtrend can be seen at USD 15. The price is below the DMA of 50 and over 100 and may soon see a positive breakout. The 50 DMA is near $ 22 and acts as a temporary resistance to the price. When the asset price jumps 15-20% above current levels, a strong upward momentum can be seen. The CAKE / BTC pair may still make new highs in the future.

diploma

The CAKE coin price is currently experiencing a strong upward momentum and may soon hit a new high. The CAKE / BTC pair may hit a new high in the future as well.

Technical levels

Main Resistance: $ 25
Home Grant: $ 12

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