Pancakeswap (cake) The price has not changed much lately. It has been stuck between $ 1.70 and $ 2.05 for several weeks now. We have seen short rallies, but the price continues to be growing by a downward trend line that started at the end of 2023. So far, this trend line is still loud and blocks any serious escape.
During writing, Cake is negotiated at around $ 1.96, just less than the exponential Mobile average of 9 days (EMA), which is around $ 2.01. If the price can push over the area from $ 2.05 to $ 2.10 and stay there, we could finally see a real advantage. But if the price of the cake cannot explode, then the momentum could remain weak. On the other hand, $ 1.70 acts as a support for the moment. If this level gives way, the next area to watch could be closer to $ 1.50.
What then happens for the cake also depends a lot on the location of the overall cryptography market. If bitcoin continues to move laterally or drop, it could cause altcoins like the cake with it. But if Bitcoin starts climbing again, the cake can get on the wave and try to challenge higher resistance around $ 3.50, or even $ 6.00 on the road.
What the indicators say about the price of the cake
Daily technical indicators of the point to a mainly low -to -neutral configuration. THE Relative force index (RSI) is 48.3, indicating neutral impulse. This does not point out any major movement in both directions.
THE Stochastic oscillator is about 32 years old, showing pressure downwards but not an extreme sale. The freight channel index (CCI) is at -84.9, showing that the current trend is not very strong.
Other downward signals include the Change rate (ROC) at -2.85 and the Bull / Bear Power at -0.012. These readings show that sellers currently have a slight advantage.
Mobile averages also paint a negative image. Cakes' exchanges below all of its medium -sized key – 20 days, 50 days, 100 days and 200 days. This suggests that sellers are always controlled by the market.
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So, should you put $ 1,000 in the cake now?
Based on the structure of the graphic and technical indicators, the cake is still in a low position. He has not yet left his downward trend, and most signals are neutral or lower.
If you plan to invest $ 1,000 in the cake, a conservative approach can be the wiser choice. Instead of doing so in one amount, opt for the average cost in dollars (DCA) by dividing your investment into payments. It would make you spend many prices and contain your loss if the price decreased more.
Pancakeswap (cake) The price will always have space To appreciate if the general market becomes bullish, but for the moment, the management is uncertain. Waiting for a confirmed break above $ 2.10 could be a better entry point.
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