Join Our Telegram channel to stay up to date on breaking news coverage
Bulls may continue pushing up the CAKE
CAKEUSD Price Analysis – September 12
Should the buyers increase their momentum and penetrate the resistance level at $4.66, the resistance levels of $5.01 and $5.55 may be tested. In case the sellers push down the CAKE, it will be confronted by the barriers at $4.36, $4.20 and $3.70 support levels.
CAKE/USD Market
Key levels:
Resistance levels: $4.66, $5.01, $5.55
Support levels: $4.36, $4.20, $3.70
CAKEUSD Long-term trend: Bullish
PancakeSwap is bullish in the daily chart. The coin has been obeying the bulls’ command since last month. It increases to $4.66 on August 08, it pulled back to retest the support level of $3.70 as a normal phenomenon in a trending market. At the moment, the buyers are returning to the market and the price is increasing gradually towards previous high at $4.66. There is tendency for the price to break up the just mentioned level if buyers increase the pressure.
PancakeSwap is trading above the 9 periods EMA and 21 periods EMA which indicate an increase in the buyers’ momentum. Should the buyers increase their momentum and penetrate the resistance level at $4.66, the resistance levels of $5.01 and $5.55 may be tested. In case the sellers push down the price, it will be confronted by the barriers at $4.36, $4.20 and $3.70 support levels. Meanwhile, the relative strength index period 14 is at 66 levels with the signal line pointing up to indicate buy signal.
Your capital is at risk
CAKEUSD medium-term Trend: Bullish, 10000X Returns Coming on TAMA
PancakeSwap is bullish in the 4-hour time frame. The coin found support at $3.49 level. Due to low momentum of the bears, the price bounce and increase. It broke up $4.37 and $4.49 levels. It is currently targeting the resistance level at $4.66.
PancakeSwap is trading above the 9 periods EMA and 21 periods EMA. The Relative Strength Indicator period 14 is at 70 levels exhibiting buy signal.
During the TAMA presale, 1 billion tokens will be sold. This number equates to 50% of the entire TAMA supply. The solid tokenomics of TAMA is one of the reasons why the presale has become very popular. Unlike other memecoins with trillions and quadrillions of coins in supply, TAMA’s supply is capped at 2 billion. TAMA has also been securing new partnerships that make the memecoin popular in the crypto community. To make it easier for traders to invest in the memecoin, the Tamadoge team has announced Fiat On-Ramp support allowing users to buy Ether with a card or using local payment methods such as Transak and then convert the ETH into TAMA.
Related
Join Our Telegram channel to stay up to date on breaking news coverage
