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Pancake Swap tokens increased by 21% in a week
Platform is a decentralized exchange on the BNB chain
CAKE, a native token, claims a higher level and investors need to take a position
PancakeSwap CAKE / USD may not be ranked in the top cryptocurrencies. But that’s the right headline, enough for crypto enthusiasts to notice. It’s worth noting that cryptocurrencies have skyrocketed by 21% in a week.
Pancake Swap, ranked 78th by market capitalization, could be a vulnerable person in the DeFi sector. However, this is backed by Binance, the world’s leading exchange. PancakeSwap is itself a decentralized exchange to the BNB chain. This allows users to exchange coins without intervention.
In early June, Binance Labs announced that it had invested in Pancake Swap. It pushed up the price of the native token CAKE. However, prices have fallen again against the backdrop of strong bear sentiment towards cryptocurrencies. With smart contract functionality and Binance connectivity, Pancake Swap remains a viable protocol. Investors need to increase their interest in CAKE as prices show signs of bullishness.
Source TradingView
On the daily chart, CAKE is trading just above the $ 3.5 resistance zone. Breakouts are underway and investors need to be aware of price behavior. The MACD indicator is already in the burtery. If the cryptocurrency successfully clears $ 3.5, CAKE will do another Litmus test for $ 4.0.
Our verdict is that CAKE is gaining bullish momentum. The question is when will the tokens clear the resistance at $ 3.5 and $ 4.0. Investors can buy now to fix their value and retain it for the long term.
PancakeSwap is on the rise and could exceed $ 3.5. Then the next resistance will be $ 4.0. Cryptocurrencies are suitable for long-term purchase and retention.
Pancake Swap tokens increased by 21% in a week
Platform is a decentralized exchange on the BNB chain
CAKE, a native token, claims a higher level and investors need to take a position
PancakeSwap CAKE / USD may not be ranked in the top cryptocurrencies. But that’s the right headline, enough for crypto enthusiasts to notice. It’s worth noting that cryptocurrencies have skyrocketed by 21% in a week.
Pancake Swap, ranked 78th by market capitalization, could be a vulnerable person in the DeFi sector. However, this is backed by Binance, the world’s leading exchange. PancakeSwap is itself a decentralized exchange to the BNB chain. This allows users to exchange coins without intervention.
In early June, Binance Labs announced that it had invested in Pancake Swap. It pushed up the price of the native token CAKE. However, prices have fallen again against the backdrop of strong bear sentiment towards cryptocurrencies. With smart contract functionality and Binance connectivity, Pancake Swap remains a viable protocol. Investors need to increase their interest in CAKE as prices show signs of bullishness.
Source TradingView
On the daily chart, CAKE is trading just above the $ 3.5 resistance zone. Breakouts are underway and investors need to be aware of price behavior. The MACD indicator is already in the burtery. If the cryptocurrency successfully clears $ 3.5, CAKE will do another Litmus test for $ 4.0.
Our verdict is that CAKE is gaining bullish momentum. The question is when will the tokens clear the resistance at $ 3.5 and $ 4.0. Investors can buy now to fix their value and retain it for the long term.
PancakeSwap is on the rise and could exceed $ 3.5. Then the next resistance will be $ 4.0. Cryptocurrencies are suitable for long-term purchase and retention.
