Can CAKE [PancakeSwap] bulls bake a rally after seeing strong moves post…

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice The previous day's drama notwithstanding, PancakeSwap's token CAKE did have a bullish outlook in late March. The rejection at the $11 area left a sour taste in the mouths of long-term investors of CAKE.

Timeline of Pancakeswap

XRP appeared to form a low timeframe range, while STEPN saw a strong bounce from an area of demand. However, the next day or two can be crucial for the crypto market as Bitcoin appeared to stand at a crucial juncture.

CAKE price continues to trade sideways for the past three-session following a dull start to a fresh trading week. The price hovers near the multi-week support area at around $7.50.

Since breaking out from a long-term descending resistance line, PancakeSwap (CAKE) has shown several bullish signs and is attempting to create a higher low. The post PancakeSwap (CAKE) Breaks Out From 309-Day Resistance Line appeared first on BeInCrypto.

The Pancake(CAKE) price resonates within $10 and $7.5 barriers for over a month now, creating a narrow range. However, the consolidation reflected a bearish set-up with double top pattern formation.