PancakeSwap

<ul class="list-ic vertical">
 <li><span>1</span> <a>CAKE token price has retested the breakout region and is ready for a bounce.</a></li>
 <li><span>2</span> <a>Buyers are holding the gains and persisting in accumulation.</a></li>
</ul>
<p>The CAKE price has replicated a rounding bottom formation breakout and reached the $5 mark in recent sessions. However, the buyers failed to exceed the supply region and flipped to the neckline support zone of $4. Amidst the market downturn, the token has retraced only by 20% and is still in the bullish region.</p>
<p>At press time, the CAKE token (CAKE) price was trading at $4.26 with an intraday gain of 1.60%, reflecting neutrality on the charts. It has a monthly return ratio of 53.20% and 24.47% on a yearly basis. The pair of CAKE/BTC is at 0.0000643 BTC, and the market cap is $6.68 Billion. Analysts are neutral and suggest the LINK token may attain a pullback and will continue to gain in the next few sessions.</p>
<h2 class="wp-block-heading" id="strong-cake-price-to-volume-profile-reveals-neutrality-strong"><strong>CAKE Price To Volume Profile Reveals Neutrality</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price (CAKE), Volume (CAKE), RSI 1d (CAKE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=bnb-pancakeswap&amp;pt=CAKE&amp;df=2023-12-25T00%3A00%3A00.000Z&amp;dt=2024-03-21T18%3A29%3A59.477Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd%3Brsi_1d&amp;wax=0%3B1%3B2&amp;wc=%2326C953%3B%2368DBF4%3B%23FF5B5B&amp;ws=%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22candle%22%7D%3B%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22line%22%7D%3B%7B%22interval%22%3A%221d%22%2C%22__appliedInterval%22%3Atrue%7D" scrolling="no"></iframe>
<p>The<a href="https://www.thecoinrepublic.com/2024/02/06/pancakeswap-price-forecast-will-cake-token-break-below-2-level/" target="_blank" rel="noopener noreferrer nofollow"> PancakeSwap token </a>(CAKE) price signifies higher high and higher low formation and is close to the support region of $4, from where a significant bounce is expected soon. Moreover, the token price is trading above the key moving averages and is in the bullish region. The trading volume noted a drop of over 10% to $141.25 Million, signifying neutrality in investor interest.</p>
<p>The relative strength index (RSI) curve stayed in the overbought zone and witnessed a positive divergence on the charts. Moreover, the token has sustained gains above the 38.2% fib zone and will skyrocket soon.</p>
<h2 class="wp-block-heading" id="strong-price-volatility-at-peak-sentiment-remained-average-strong"><strong>Price Volatility At Peak, Sentiment Remained Average</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (CAKE), Weighted sentiment (Total) (CAKE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=bnb-pancakeswap&amp;pt=CAKE&amp;df=2023-12-25T00%3A00%3A00.000Z&amp;dt=2024-03-21T18%3A29%3A59.477Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_volatility_1d%3Bsentiment_volume_consumed_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>The data shows that the token has given ups and downs and has retested the neckline support zone of $3.50 this week. These massive fluctuations led to a spike in the volatility curve and the value rose to 20% to 0.034. However, the weighted sentiment remained neutral and the value stayed in the negative region near -0.552.</p>
<h3 class="wp-block-heading" id="strong-social-dominance-and-active-addresses-overview-strong"><strong>Social Dominance and Active Addresses Overview</strong></h3> <iframe loading="lazy" title="Santiment Chart: Social Dominance (CAKE), Total Amount Of Holders (CAKE), Active Addresses 24h (CAKE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=bnb-pancakeswap&amp;pt=CAKE&amp;df=2023-12-25T00%3A00%3A00.000Z&amp;dt=2024-03-21T18%3A29%3A59.477Z&amp;emcg=1&amp;emhwm=1&amp;wm=social_dominance_total%3Bholders_distribution_total%3Bactive_addresses_24h&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%3B%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22line%22%7D" scrolling="no"></iframe>
<p>Per the Santiment data, the token has witnessed a spike in the social dominance and the value rose over 25% to 0.582%. Moreover, the active addresses sharply surged to 26.3k and witnessed a spike over 35% this week. However, the total number of holders remained consistent near 1.61 million.</p>
<h4 class="wp-block-heading"><strong>What Does Whale Transaction Count and Supply Indicate?</strong></h4> <iframe title="Santiment Chart: Percent of Stablecoin Total Supply held by Whales with more than 5 million USD, Whale Transaction Count (>100k USD) (CAKE)” width=”1170″ height=”425″ src=”https://embed.santiment.net/chart?ps=bnb-pancakeswap&amp;pt=CAKE&amp;df=2023-12-25T00%3A00%3A00.000Z&amp;dt=2024-03-21T18%3A29%3A59.477Z&amp;emcg=1&amp;emhwm=1&amp;wm=percent_of_whale_stablecoin_total_supply%3Bwhale_transaction_count_100k_usd_to_inf&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%3B%7B%22interval%22%3A%221d%22%7D” scrolling=”no”></iframe>



<p>Following the price surge in recent sessions, the percent of stablecoin total supply held by the whales rose over by 2.3% to 52.49 this month. However, the whales transaction count activity revealed a rise to 133.</p>



<p>The total supply of the token is 1.60 billion and the volume to market cap ratio is 0.0211, whereas the technical indicators favor a bounce and the token may retain the upside of $5 soon.</p>



<h3 class=" wp-block-heading>&amp;lt;strong&amp;gt;Summary&amp;lt;/strong&amp;gt;&amp;lt;/h3&amp;gt; &amp;lt;p&amp;gt;The CAKE token price has retested the support zone of $4 and intends to regain momentum and is looking for a pullback toward the $5 mark. The trend is intact and the token may retain strength and will surpass the trajectory hurdle of $5 soon.&amp;lt;/p&amp;gt; &amp;lt;h4 class="wp-block-heading"&amp;gt;&amp;lt;strong&amp;gt;Technical Levels&amp;lt;/strong&amp;gt;&amp;lt;/h4&amp;gt; &amp;lt;p&amp;gt;&amp;lt;strong&amp;gt;Support Levels:&amp;lt;/strong&amp;gt; $4.0 and $3.70&amp;lt;/p&amp;gt; &amp;lt;p&amp;gt;&amp;lt;strong&amp;gt;Resistance Levels:&amp;lt;/strong&amp;gt; $5 and $5.80&amp;lt;/p&amp;gt; &amp;lt;h5 class="wp-block-heading"&amp;gt;&amp;lt;strong&amp;gt;Disclaimer&amp;lt;/strong&amp;gt;&amp;lt;/h5&amp;gt; &amp;lt;p&amp;gt;The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&amp;amp;nbsp;&amp;lt;/p&amp;gt; </iframe>

CAKE Price Prediction: Can CAKE Retain $5 Mark Amidst DownTurn?

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