PancakeSwap

Recent trends show an uptick in crypto fund investments, with Bitcoin still leading the pack despite not matching the previous years&#39; influx. The market is abuzz with exciting developments: potential <a href="https://cryptodaily.co.uk/2023/10/blackrock-spot-bitcoin-etf-a-step-closer-appears-on-dtcc-website" rel="noopener noreferrer nofollow">growth in Bitcoin ETFs</a> attracting major funds, Santander&#39;s new crypto trading options in Switzerland, and Argentina&#39;s <a href="https://cryptodaily.co.uk/2023/11/pro-bitcoin-javier-milei-will-be-the-next-president-of-argentina" rel="noopener noreferrer nofollow">election</a> of a Bitcoin advocate president, adding a geopolitical angle. But, it&#39;s not all smooth sailing, as Binance faces <a href="https://cryptodaily.co.uk/2023/11/binance-faces-record-breaking-penalty-as-doj-seeks-4-billion" rel="noopener noreferrer nofollow">a significant legal challenge</a> from the U.S. Department of Justice.Amidst this news, the crypto market cap has slightly dipped to $1.41 trillion, with Bitcoin seeing a small decline and Binance Coin unexpectedly rising. Amidst this, PancakeSwap (CAKE) and Uniswap (UNI) have experienced both downs and ups, gaining traction from increased activity in decentralized exchanges (DEXs). PancakeSwap, especially linked with the Binance ecosystem, stands out as a favored choice for those avoiding higher fees of Uniswap.In this varied landscape, <a href="https://scapesmania.io/?utm_source&#61;cryptodaily&amp;utm_medium&#61;mmedia&amp;utm_campaign&#61;CAKEUNI" rel="noopener noreferrer nofollow">ScapesMania</a> (MANIA) is turning heads with its unique gaming ecosystem and DAO governance paired with an innovative and community-centric approach. Backed by a talented and transparent team, MANIA is rapidly becoming a popular name, promising up to three-digit returns and ensuring its supporters invest with a peace of mind.ScapesMania: Shaping The Future Of Crypto, One Token At A TimeWhile some are facing an uncertain future, the trajectory of a presale project is far easier to predict. ScapesMania (MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. Through DAO governance, backers will be able to influence and benefit from a multi-billion-dollar industry. A wide range of features paired with the best technology, a professional team, and a long-term, highly ambitious vision can make ScapesMania the next big thing in crypto. Presale discounts and stage bonuses only add to the project&#39;s appeal.<h2 id="header-0">Presale is Live Now - Join Now for a Chance to Benefit with MANIA</h2>Backed by an award-winning developer crew, ScapesMania stands for transparency: every member’s social media profile is public. The project can achieve this not just by bringing big innovation to the game, but by putting its community front and center. Driving customer engagement and making sure that everyone benefits through great tokenomics and generous rewards is what makes ScapesMania the project with a bright future ahead.<a href="https://scapesmania.io/?utm_source&#61;cryptodaily&amp;utm_medium&#61;mmedia&amp;utm_campaign&#61;CAKEUNI" rel="noopener noreferrer nofollow">Presale is Live, Learn More About Major Benefits</a>PancakeSwap (CAKE): Too Sweet To Last?PancakeSwap (CAKE) has seen a 17% rise in the past week, buoyed by a striking 98% jump in trading volume to $216 million. Despite a 31% drop year-to-date, CAKE impressively rallied by 133% in the last month. This recent growth can be attributed to several factors: the overall market optimism fueled by the spot ETF sentiment, PancakeSwap&#39;s <a href="https://twitter.com/PancakeSwap/status/1686006199710535680?ref_src&#61;twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1686006199710535680%7Ctwgr%5E88876d8c92893a1143b353072be2e8a0ddecae02%7Ctwcon%5Es1_c10&amp;ref_url&#61;https%3A%2F%2Fu.today%2Fpancakeswap-cake-launches-revenue-sharing-pool-cake-stakers-to-benefit" rel="noopener noreferrer nofollow">ongoing community reward distributions</a>, and its strategic position as a pioneering DEX on the BNB Chain protocol. Notably, PancakeSwap (CAKE) is expanding its scope beyond being a mere DEX, <a href="https://cryptodaily.co.uk/2023/11/binaryx-launches-city-building-game-pancake-mayor-on-pancakeswaps-new-marketplace" rel="noopener noreferrer nofollow">venturing into play-to-earn gaming</a> and continuing its <a href="https://twitter.com/PancakeSwap/status/1599718707869384704?ref_src&#61;twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1599718707869384704%7Ctwgr%5E301a5d141d2c62a18f4a32e77fddaf9b19e92f9a%7Ctwcon%5Es1_c10&amp;ref_url&#61;https%3A%2F%2Fu.today%2Fpancakeswap-burns-28-million-worth-of-cake-price-shows-positive" rel="noopener noreferrer nofollow">token burn program</a> to enhance the deflationary aspect of CAKE.<h2 id="header-1">PancakeSwap (CAKE) Technical Analysis</h2>Technically, PancakeSwap (CAKE) is currently trading between its first support point at $2.31 and the first resistance point at $2.83. The token recently crossed the 9-day moving average at $2.32, hinting at bullish momentum; however, it is still far from its 52-week high of $4.73.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/0b41c4aa45af4958bc8e45b93e7fca51.png" />Source: <a href="https://www.tradingview.com/chart/3rzIBxxK/?symbol&#61;BINANCE%3ACAKEUSD" rel="noopener noreferrer nofollow">TradingView</a>The 14-day RSI, hovering at 80%, suggests that CAKE might be entering overbought territory, while the 3-10 day MACD oscillator stalling at $2.85, indicates a pause in the bullish momentum. The proximity to the first resistance point and the current RSI levels bring CAKE at a critical juncture where market sentiment could trigger a significant move.In a bullish scenario, if PancakeSwap (CAKE) breaks through $2.83, it could target the second resistance level at $3.08, and potentially the third at $3.35. Such a move would be supported by the current positive market sentiment and PancakeSwap&#39;s strategic developments.On the other hand, a bearish turn could see CAKE retracting towards $2.31, and if the downward momentum continues, it could test further supports at $2.03 and even $1.79. In this scenario, traders should watch for the MACD and RSI indicators for signs of extended bearish pressure or potential reversal points.Uniswap (UNI): From App Launch To Market TestsUniswap (UNI) is experiencing a blend of ups and downs, with a year-to-date decline of 5%, but an impressive 23% surge in the past month. This growth is underscored by a significant 32% increase in trading volume, reaching $115 million, suggesting a potentially impactful period ahead for UNI. Recently, Uniswap has expanded its reach by <a href="https://cryptodaily.co.uk/2023/10/uniswap-expands-its-reach-with-android-wallet-beta-launch" rel="noopener noreferrer nofollow">launching a mobile app</a>, a notable move for a top DeFi project known for its decentralized nature. This development, coupled with the news of its <a href="https://app.intotheblock.com/coin/UNI" rel="noopener noreferrer nofollow">revenue boost</a> from an additional <a href="https://cryptodaily.co.uk/2023/10/uniswap-to-begin-charging-015-swap-fees" rel="noopener noreferrer nofollow">interface fee</a>, has brought a fresh wave of attention to the platform.<h2 id="header-2">Uniswap (UNI) Technical Analysis</h2>From a technical standpoint, Uniswap (UNI) is trading in a critical range between its first support point at $4.92 and the first resistance point at $5.4.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/ee0114817e984ab8920ddf037c09abfc.png" />Source: <a href="https://www.tradingview.com/chart/3rzIBxxK/?symbol&#61;COINBASE%3AUNIUSD" rel="noopener noreferrer nofollow">TradingView</a>The 14-day RSI hovering near the 70% mark, along with the 3-10 day MACD oscillator stalling at $5.35, indicates a cautious optimism in the market. These indicators, along with the crossing of the 9-day moving average at $5.14, suggest a balanced yet potentially volatile trading environment for UNI.In a bullish case, if Uniswap (UNI) breaks above $5.4, it could test the higher resistance levels at $5.6, which aligns with the asset’s 1-month high, and potentially at $5.88. This upward movement would be bolstered by a sustained positive trend in the MACD and a rise in the RSI above 70%, indicating increasing buying pressure.Conversely, from a bearish outlook, a drop below $4.92 could lead UNI towards deeper supports at $4.65 and $4.45. A declining RSI towards 50% or below would signal growing selling pressure. The crossing of the 18-day moving average at $4.87 could further confirm a negative trend, suggesting a cautious approach for traders in the short term.Final ThoughtsIn the dynamic crypto market, PancakeSwap (CAKE) and Uniswap (UNI) stand out with their recent movements. CAKE is on an upward trajectory, branching into play-to-earn gaming and a token burn strategy. Despite its impressive recent rally, technicals suggest a cautious stance as it nears overbought territory. UNI, regardless of some dips, has shown resilience with a notable surge recently, buoyed by increased trading activity and its new mobile app. Both tokens, representative of the broader market’s ebb and flow, encapsulate the nuanced and unpredictable nature of the crypto world, each holding their own in the face of rapid changes and emerging opportunities.Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.RELATED TOPICS: <a href="https://cryptodaily.co.uk/tag/altcoins" rel="noopener noreferrer nofollow">#ALTCOINS</a> <a href="https://cryptodaily.co.uk/tag/breaking-news" rel="noopener noreferrer nofollow">#BREAKING NEWS</a> <a href="https://cryptodaily.co.uk/tag/spotlight" rel="noopener noreferrer nofollow">#SPOTLIGHT</a>

Can PancakeSwap (CAKE) And Uniswap (UNI) Green Streak Escalate To Yearly Triumphs?

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