Convergence

PancakeSwap

DeFi

Time

Divergence

The post <a href="https://coinpedia.org/price-analysis/cake-price-reclaims-5-whats-next-for-pancakeswap-this-week/">CAKE Price Reclaims $5! What’s Next For PancakeSwap This Week?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The <a href="https://markets.coinpedia.org/pancakeswap/" target="_blank" rel="noreferrer noopener">CAKE token</a> has added significant valuation to its portfolio over the past month, indicating a rise in investor’s interest in it. Further, the Decentralized Finance (DeFi) tokens have recorded significant volatility since the month started, highlighting a market interest switch. 
Further, the PancakeSwap price has jumped 45% within the past seven days and 89% over the past 30 days, indicating a rising demand for this DeFi token in the crypto space. 
<h2 class="wp-block-heading" id="h-pancakeswap-price-reclaims-5-for-the-first-time-since-may-2022">PancakeSwap Price Reclaims $5 For The First Time Since May 2022!</h2> 
The <a href="https://coinpedia.org/price-prediction/pancakeswap-cake-price-prediction/">CAKE price</a> traded in a closed range between $2.647 and $3.018 for a period, following which the PancakeSwap token recorded a jump of 30.18% in valuation, after which the price faced rejection at the resistance level of $3.446. 
After this, the CAKE token displayed a neutral trend by trading in a closed range between $3.018 and $3.446 for the next twelve days, highlighting a cool-off in the price action within the market. After testing its low of $3.018, the bulls regained momentum and started trading under a bullish influence. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/sjNfhWeHJpMT-iiHhQP2_MuAKdF3VZW3Qys8TmlROh79l09aj6SdlGQnUrILBkbeOHHEnJ3FmvGvy0u3SQOOz4HaT7is1F45dToYoN2kLEB1_4QTxZJWn3YTNXygBvMKRTegOK7aWVknyIvw_aRWx_Q" alt="CAKE Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: CAKE/USDT
 </figcaption>
</figure> 
The PancakeSwap price added 53.01% to its portfolio over the next four days, indicating a strong bullish reversal in the market. After facing rejection at $4.341, the token traded between $3.959 and $4.341 for the next few days. Recently, the bulls recorded another jump of 23.88% before facing rejection at $5.182. 
The Moving Average Convergence Divergence (MACD) displays a constant green histogram, indicating an increased buying-over-selling pressure in the industry. Moreover, the averages show a bearish curve, suggesting a negative price action for the token in the coming time. 
Also Read: <a href="https://coinpedia.org/price-analysis/ethereum-loses-4000-milestone-following-dencun-upgrade-heres-the-next-eth-price-level/">Ethereum Loses $4,000 Milestone Following Dencun Upgrade! Here’s The Next ETH Price Level</a> 
<h2 class="wp-block-heading" id="h-will-cake-price-go-up">Will CAKE Price Go Up?</h2> 
If the bulls regain value, the CAKE price will prepare to test its resistance level of $5.182 this week. Further, if the PancakeSwap price continues to trade under a bullish influence, it will prepare to test its upper resistance level of $5.750 over the coming weekend. 
Conversely, a trend reversal may pull the price toward its support level of $4.647. Moreover, if the bears continue to overpower the bulls, the CAKE token will continue bleeding and test its lower support level of $4.341 during the upcoming days.

CAKE Price Reclaims $5! What’s Next For PancakeSwap This Week?

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