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CAKE Price Increases to Retest $4.6 Level, TAMA Debuts on OKX

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Bulls continue pushing up the CAKE

CAKEUSD Price Analysis – September 26

Should the buyers increase their momentum and penetrate the resistance level at $4.6, the resistance levels of $5.0 and $5.5 may be tested. In case the sellers push down the CAKE, it will be confronted by the barriers at $4.5, $4.3 and $3.8 support levels

CAKE/USD Market

Key levels:

Resistance levels: $4.6, $5.0, $5.5

Support levels: $4.5, $4.3, $3.8

 

CAKEUSD Long-term trend: Bullish

PancakeSwap is bullish in the daily chart. After the formation of Cup with Handle shape pattern. The coin remains under the buyers’ control. It increases to $4.3 resistance level. It pulled back to retest the dynamic support level as a normal phenomenon in a trending market. The buyers returned to the market and push the price to break up the resistance level of $4.3. The price further increase to test the resistance level of $4.6.

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 $4.6, the resistance levels of $5.0 and $5.5 may be tested. In case the sellers push down the price, it will be confronted by the barriers at $4.5, $4.3 and $3.8 support levels. Meanwhile, the relative strength index period 14 is at 60 levels with the signal line pointing up to indicate buy signal.

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 CAKEUSD medium-term Trend: Bullish, TAMA Debuts on OKX

PancakeSwap is bullish in the 4-hour time frame. The coin retested the support at $3.8 level after the formation of Cup and handle shape pattern. Due to low momentum of the bears, the price bounced and increase. It broke up $4.3 level.  It is currently testing $4.6 resistance level.

PancakeSwap is trading above the 9 periods EMA and 21 periods EMA. The Relative Strength Indicator period 14 is at 57 levels exhibiting buy signal.

Stay tuned to the crypto news feed here at InsideBitcoins for more updates on Tamadoge’s first exchange listing as the Sept 27th listing date approaches. The OKX website has announced that TAMA withdrawals will be open at 13:00 UTC on the day of the listing.

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