🚀 CAKE Heating Up Again — Is $3.60 the Next Stop? As we go
koinmilyoner
Updated at: 7 hours ago
{"content":"🚀 CAKE Heating Up Again — Is $3.60 the Next Stop?
As we go to press on Monday, PancakeSwap has risen by more over two percent, increasing the ten percent increases it has seen since Sunday. The positive beginning of the week for CAKE reached the $3.20 resistance level, which was touched for the last time on February 13.
Extending the gains to the $3.60 level, which was most recently touched on December 13, might be possible with a strong push over this level.
A rebound in green histogram bars is shown by the Moving Average Convergence Divergence (MACD) indicator, which indicates that bullish momentum is making a comeback.
On the daily chart, the Relative Strength Index (RSI) has a reading of 78, which indicates that current circumstances are overbought as the purchasing pressure continues to increase. Although overbought situations often indicate a rapid turnaround, investors may wish to limit their optimistic expectations in order to avoid unnecessary risk.
In the event that CAKE is unable to achieve a decisive daily close above the $3.20 level, it may go in the other direction, toward the $2.80 level, which has previously served as a multi-month levels of resistance.
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