PancakeSwap Adds Some Sweetness, Expands 6% In Last 7 Days

PancakeSwap’s bullish momentum has been accelerated by its most recent recovery, which is evident in daily 20 and 50 EMA.

  • PancakeSwap looking bullish
  • CAKE price plunges 3.25%
  • DMI shows neutral

With the current economy of cryptocurrencies, traders need to know when it’s time to dip their toes and carve their potential to become millionaires.

PancakeSwap’s rapid growth has put the alternative coin in danger of falling into its short-term EMAs. However, in the coming sessions the $4.4-$4.2 region might still present obstructions to recovery.

CAKE shows rising wedge recovery

CAKE saw a rising wedge, which set the stage for its bullish recovery. The $4.2-$4.4 price range was reactivated by the brief selling pressure. This made it a support-to-resistance zone.

Coingecko’s figures indicate that PancakeSwap’s stock is up 6.6% over the past seven days. As of press time, it was trading at $3.95

Buyers might be able to make short-term gains by regaining trendline support, before hitting resistance in the immediate range.

These motions have caused a slow-moving period near the EMAs. An abrupt reversal of the trendline support could give the bulls an upper hand, and trigger a volatile break.

Despite a pattern break, the 20 EMA was able exceed the 50 EMA. The currency also found support at the trendline resistance.


The trendline support level of $4.2-$4.4 may see a reverse bounce. If the coin recovers from the range, it could be re-tested for support at the trendline.

In either scenario, a slide below the trendline’s level of support would send a sell signal and confirm a bullish invalidation.

Relative Strength Index(RSI) crawled to the point just beyond the middle line in order to demonstrate a drop in selling pressure. It is possible to reaffirm bullishness by holding a position higher than the 50-level.

The selling activity also indicated that there was a slight increase in Chaikin Money flow (CMF). If traders are looking for support for their bullish bias they should be watching out above the equilibrium.

The $4 region could be a hindrance to the current recovery from trendline support. Buyers need to be alert for a continued closure over the 20/50 EMA in order to confirm bullishness.

PancakeSwap – A Reliable DeFi

These targets could still be found as previously described. Finally, keeping an eye on the king coin’s movement may enable you to place a successful wager.

PancakeSwap (decentralized exchange), is the most popular DEX on Binance Smart Chain. This DEX (decentralized exchange) focusing on food is most frequently used. It was anonymously founded in 2020.

CAKE, the native token is distributed to investors as a means of generating liquidity. CAKE can then be staked one more time to increase your earning potential. CAKE can be considered one of DeFi’s most trustworthy coins, and is an important investment.

CAKE's total market capital is $566M according to the daily chart. Source:| Source:

Featured image taken from, chart by 10Clouds

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