Sellers oppose buyers at $5.0 Level in the CAKE market
CAKEUSD Price Analysis – September 30
When the buyers increase their momentum and penetrate the resistance level at $5.0, the resistance levels of $5.5 and $6.2 may be tested. In case the sellers push down the CAKE, it will be confronted by the barriers at $4.6, $4.5 and $4.3 support levels.
CAKE/USD Market
Key levels:
Resistance levels: $5.0, $5.5, $6.2
Support levels: $4.6, $4.5, $4.3
CAKEUSD Long-term trend: Bullish
PancakeSwap is bullish in the daily chart. The coin remains under the buyers’ control. It increases to $4.6 resistance level. Buyers exert more pressure and the just mentioned level was penetrated upside. The buyers’ pressure pushes the price to the high of $5.0. Seller defends the just mentioned level. Yesterday, an inverted pin bar candle formed which indicate an increase in the sellers’ momentum. Today, more bears influx the market and the price is decreasing towards the support level of $4.6.
PancakeSwap is trading above the 9 periods EMA and 21 periods EMA which indicate a bullish momentum. When the buyers increase their momentum and penetrate the resistance level at $5.0, the resistance levels of $5.5 and $6.2 may be tested. In case the sellers push down the price, it will be confronted by the barriers at $4.6, $4.5 and $4.3 support levels. Meanwhile, the relative strength index period 14 is at 63 levels with the signal line pointing down to indicate sell signal.
Your capital is at risk
CAKEUSD medium-term Trend: Bearish
PancakeSwap is bearish in the 4-hour time frame. The coin reached the high of $5.0 yesterday. An inverted pin bar candle was produced. Bearish candles were produced which indicate an increase in the sellers pressure. The dynamic support level is penetrated downside. Price is heading towards the support level of $4.6.
PancakeSwap is trading below the 9 periods EMA and 21 periods EMA. The Relative Strength Indicator period 14 is at 48 levels exhibiting sell signal.
Tamadoge – Play to Earn Meme Coin
- Earn TAMA in Battles With Doge Pets
- Capped Supply of 2 Bn, Token Burn
- Presale Raised $19 Million in Under Two Months
- Upcoming ICO on OKX Exchange
