Will PancakeSwap(CAKE) Price Secure A Double-Digit Figure in Q1 2022?

Key Takeaways:

• The CAKE price closed the previous day’s trade at $6.58 with a market capitalization of $1.82 billion and a circulating supply of 276,677,025.28 CAKE
• The CAKE price is expected to undergo a 35% upswing to secure its position close to $10 which may pave the way to seal the levels above crucial resistance at $12

PancakeSwapPrice Analysis: How High Will CAKE Crypto Price Go in March 2022?

The CAKE price received an immense influx of liquidity a couple of days before which uplifted the price from the descending trend. The price may range high slowly and steadily and may maintain a significant uptrend. Therefore look forward to achieving the much-required zones around $10 initially and later $12.

Therefore, with just a few days left for the monthly close, the CAKE price may range high to close the trade above $8.41. Once these levels are secured, the next quarter may kick off on a bullish note. And hence a notable uptrend may be much expected in the upcoming days.

PancakeSwapPrice Prediction: Will PancakeswapPrice Hit $50 in 2022?

The CAKE price ever since smashed the Q4 2021 highs, fell into a deep bearish trap further. All the attempts went rejected which formed consistent lower highs and lows within a descending parallel channel. The current breakout currently may not be still validated until and unless the asset secures its position above $12.94.

The asset could eventually swing within the same pattern for another couple of days and with an opportunity of a strong rebound could seal the levels close to $15. The second half of 2022 is expected to be a little profitable and hence the levels above $21 may be secured. However, the ATH could be pretty tough considering the current pace but maybe tested somewhere during the next few years.

Additional Read: Top Crypto News Today, 22 March 2022.

PancakeSwapPrice Analysis: CAKE Price Table (Last 07 Days) 

PancakeswapPrice Prediction: PancakeswapPrice Trend Comparison with BNB (Last 30 Days)

Source: Tradingview

CAKE and BNB both showcase a huge diversified trend ever since the beginning of the 2022 trade. While BNB manifested a gigantic rally, the CAKE price maintained a slow yet steady rally. After both the asset decoupled since the beginning of the month, BNB price ranged high and maintained a strong uptrend above the average levels. On the other hand, the CAKE price hovered below these levels. 

At the press time, the BNB price is above the average levels by 4.79% above the average levels whereas the CAKE price is below by 6.92%. Both the assets point out towards the north and hence a significant uptrend may be witnessed until the end of the weekly trade.

Additional Read: Uniswap vs Pancake Swap

Correlation of CAKE/USDT and CAKE/BTC (Last 30 Days)

Source: Tradingview

The CAKE traded with the USDT pair showcases a huge strength compared to that of the BTC pair. No doubt both the pairs are hovering along similar regions, yet the BTC pair is currently drowning a little and hence could plunge a little until it finds strong support. On the other hand, the USDT pair after the recent breakout is expected to maintain the same strength to range high towards the immediate highs. The CAKE/USDT is below the average levels by 6.85% whereas the CAKE/BTC pair is below 16.70%. 

Additional Read: PancakeSwap Technical Analysis.

Where & How to Buy Pancakeswap CAKE coin

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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to support@coindcx.com.

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