In this PancakeSwap (CAKE) price prediction 2024, 2025-2030, we will analyze the price patterns of CAKE by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
PancakeSwap (CAKE) Current Market Status
What is PancakeSwap (CAKE)
PancakeSwap, a decentralized finance (DeFi) protocol launched in 2020, operates as an automated market maker (AMM) on the Binance Smart Chain. It facilitates token trading and liquidity provision through user-contributed funds, rewarded with liquidity provider (LP) tokens. With features like token swaps, liquidity provision, farming, staking, perpetual trading, lottery, NFT marketplace, and launchpad, PancakeSwap offers a comprehensive DeFi experience. Users can also farm CAKE and SYRUP tokens, with SYRUP serving as a governance token within the exchange.
PancakeSwap 24H Technicals
PancakeSwap (CAKE) Price Prediction 2024
PancakeSwap (CAKE) ranks 105th on CoinMarketCap in terms of its market capitalization. The overview of the PancakeSwap price prediction for 2024 is explained below with a daily time frame.
In the above chart, PancakeSwap (CAKE) laid out a Descending Channel. Descending Channel also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is characteristic of a bearish market.
At the time of analysis, the price of PancakeSwap (CAKE) was recorded at $2.794. If the pattern trend continues, then the price of CAKE might reach the resistance levels of $4.032 and $10.920. If the trend reverses, then the price of CAKE may fall to the support of $2.4344 and $1.086
PancakeSwap (CAKE) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of PancakeSwap (CAKE) in 2024.
From the above chart, we can analyze and identify the following as resistance and support levels of PancakeSwap (CAKE) for 2024.
PancakeSwap (CAKE) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of PancakeSwap (CAKE) are shown in the chart below.
From the readings on the chart above, we can make the following inferences regarding the current PancakeSwap (CAKE) market in 2024.
PancakeSwap (CAKE) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of PancakeSwap (CAKE) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
From the readings on the chart above, we can make the following inferences regarding the price momentum of PancakeSwap (CAKE).
Comparison of CAKE with BTC, ETH
Let us now compare the price movements of PancakeSwap (CAKE) with that of Bitcoin (BTC), and Ethereum (ETH).
From the above chart, we can interpret that the price action of CAKE is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of CAKE also increases or decreases respectively.
PancakeSwap (CAKE) Price Prediction 2025, 2026 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of PancakeSwap (CAKE) between 2025, 2026, 2027, 2028, 2029 and 2030.
Conclusion
If PancakeSwap (CAKE) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish PancakeSwap (CAKE) price prediction for 2024 is $4.150. Comparatively, if unfavorable sentiment is triggered, the bearish PancakeSwap (CAKE) price prediction for 2024 is $1.463.
If the market momentum and investors’ sentiment positively elevates, PancakeSwap (CAKE) might hit $5. Furthermore, with future upgrades and advancements in the PancakeSwap ecosystem, CAKE might surpass its current all-time high (ATH) of $44.18. and mark its new ATH.
This content was originally published by our partners at The News Crypto.