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Pancakeswap Price Analysis: CAKE Might Reward Holders, Oscillators Favouring Bulls. 

cake
  • CAKE Price might bring smiles to holders, bulls pushing hard. 
  • CAKE at crucial levels, bears losing strength and momentum.
  • CAKE/BTC is currently trading at 0.0004706 BTC with an intraday change of +6.37%.
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The Relative Strength Index (RSI) is making a move up from the oversold zone to the overbought area. The RSI has recently broken the neutral zone and is approaching upwards creating an upward momentum. Not so long that we might see CAKE price surge in the near future. 

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The Moving Average Convergence Divergence is indicating the bears losing strength and the bulls trying to hold the steering. Though the MACD line is currently below the Zero line, it is making an U-Turn upwards with the possibility of crossing the Signal line in the days to come. This is something that suggests the holders of Cake will be rewarded with profits in the near future. 

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The Fibonacci indicator is suggesting an immediate resistance at $23.31 price and $26.68 and $36.41 price level will also remain major resistance that will test the bull’s power. There is also immediate support at $20.66 price level and $18.80 and $16.95 along with $14.65 price level will also be important support levels to watch out for. 

NOTE: The MACD line is coloured Blue and the signal line is coloured Red. 

The important support and resistance levels to keep an eye on are: 

SUPPORT: $20.66, $18.80, $16.95 and $14.65.

RESISTANCE: $23.31,  $26.68 and $36.41 

TAKEAWAY: Considering the technicals mentioned above CAKE is likely to make an upward move rewarding the holders. The support and resistance mentioned above will remain significant throughout the days to come.