- PancakeSwap price analysis is bullish today
- CAKE/USD saw a slight retracement today
- PancakeSwap is attempting to retest the $3.99 resistance
The PancakeSwap price analysis is bullish today as the price has broken above the $3.98 mark. CAKE has shown good progress during the last 24 hours as the bulls have continued to push higher. There is potential for further price rallies, and we could see PancakeSwap retest the $3.99 resistance level in the near future.
The one-day chart for PancakeSwap price analysis shows that the bullish momentum is strong, and a further price increase is expected in the coming hours as bulls continue their rally. CAKE/USD also reports an increase in price value by 2.04 percent during the last 24 hours, with a 24-hour trading volume of $24 million and a market cap of $13 million.
Despite a slight retracement last few days, the overall technical indicators are still showing strong bullish signals, suggesting that there is plenty of upside potential for CAKE/USD in the near future.
The moving average (MA) is at the $3.50 mark, and the MACD is showing increasing buying pressure, suggesting that there could be more upside potential for the price of PancakeSwap in the coming days. The relative strength index (RSI) is trading on an upwards curve at index 47, hinting at the buying activity in the market.
The four-hour chart shows that bulls have gained momentum over the previous hours as the PancakeSwap price analysis has been moving in a strong uptrend, reaching the $3.98 resistance level. As long as the price of CAKE remains over this resistance level, there is potential for further rallies, and we could see PancakeSwap hit the $4 resistance mark soon. The relative strength index (RSI) on a 4-hour chart is moving in the upper half of the neutral zone with much more room for further bullish practice as the indicator trades at index 53.
The moving average is currently above the price action of CAKE, indicating that the uptrend could continue in the coming hours. The histogram on MACD is green in color, as also the signal line is above the MACD line and indicates positive signs for PancakeSwap.
Overall, PancakeSwap price analysis has performed well over the past 24 hours, and there is plenty of upside potential for CAKE/USD. As long as bulls continue to drive higher, we could see PancakeSwap hit new highs in the near future.
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