In the past, cryptocurrencies have been used primarily as a means of payment. However, in recent years, more and more people are using them as an investment opportunity with the hope that they will increase in value. Many believe that this is the future of cryptocurrency.
The pancakeSwap price prediction 2025 is a prediction made by the website, Pancakeswap.com. They believe that CAKE will hit $25 soon.
- The price range for a bullish CAKE forecast is $14.47 to $24.45.
- The price of a CAKE may eventually exceed $25.
- For 2021, the CAKE pessimistic market price forecast is $9.10.
We utilize data, price trends, ADX, and other information about CAKE to evaluate the cryptocurrency’s future movement in PancakeSwap (CAKE) price forecast 2021.
Pancakeswap (CAKE) is a decentralized finance (DeFi) platform that allows users to trade tokens while also providing liquidity and earning fees. Users may trade BEP20 tokens, offer liquidity to the exchange and earn fees, stake LP tokens to earn CAKE, stake CAKE to earn additional CAKE, and stake CAKE to earn tokens from other projects via PancakeSwap.
PancakeSwap (CAKE) is now trading at $13.97, with a 24-hour trading volume of $336,957,003, according to CoinGecko. CAKE, on the other hand, has dropped 8.51 percent in the past 24 hours.
Furthermore, there are 200,380,422.56 CAKE in circulation. CAKE is currently traded on Binance, CoinTiger, FTX, BitWell, and HitBTC, among other cryptocurrency exchanges.
Price Forecast for PancakeSwap (CAKE) in 2021
PancakeSwap (CAKE) is currently ranked 38th on CoinGecko. The price of CAKE in 2021 is forecasted using a daily time period, as shown below.
CAKE/USDT Daily Time Frame Price Chart (Source: TradingView)
CAKE/USDT Daily Time Frame Price Chart (Source: TradingView)A falling wedge is a bullish pattern that begins at a high point and shrinks as the price drops. This price movement, however, created a downward cone. When a trend’s highs and lows converge. This indicates that, as a result of the large amount of trading during this period, the price of CAKE will continue to increase and, in the not-too-distant future, will exceed its all-time high price.
If the bullish trend continues, the CAKE may hit $21.60 on the daily time frame chart. Otherwise, if the CAKE price breaks through the $16.23 resistance level, it will fall to the next support level at $10.89. As a result, the CAKE’s trend is dependent on the breakout.
Support and Resistance Levels for PancakeSwap (CAKE)
The chart below depicts CAKE’s support and resistance levels.
Support and Resistance Levels for CAKE/USDT (Source: TradingView)
The resistance and support levels of CAKE are clearly visible in the above daily time periods.
- $14.47 is the first level of resistance.
- $16.44 is the second level of resistance.
- $19.75 for Level 3 Resistance
- Level 4 Resistance – $24.45
- Level 1 Support – $10.89
- Level 2 Support – $9.10
CAKE has been on a bullish trend for the last month, according to the charts. If the current trend continues, CAKE may join the bulls and break over the $24.45 barrier mark.
In the event that investors turn against cryptocurrency, the price of CAKE may fall to nearly $9.10, indicating a negative indication.
Average Directional Index for PancakeSwap (CAKE) (ADX)
Let’s take a look at CAKE’s average directional index (ADX). The ADX indicator aids traders in determining the strength of a trend rather than its exact direction. It may be used to see whether the market is shifting or if a new trend is about to emerge. It does, however, have a connection to the Directional Movement Index.
Furthermore, the oscillators have a range of 0 to 100. A high number also suggests a strong trend, while a low value shows a weak trend. It’s often used in tandem with direction indicators.
The ADX of CAKE remains above the range of 12.2, indicating a modest trend, as seen in the chart above.
Conclusion
CAKE is one of the cryptos that has managed to hold its footing in a negative environment. Our long-term CAKE price forecast for 2021 is also positive. This year, it has a good chance of surpassing its current all-time high (ATH) of $43.96. However, this will only happen if CAKE is able to overcome numerous previous psychological barriers.
Furthermore, the CAKE ecosystem may have a bright future ahead of it in 2021, thanks to continuous improvements and enhancements. It may soon reach $24.45 and even higher levels, but no more than $25, if investors believe CAKE is a solid investment in 2021.
Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.
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The cake price prediction longforecast is a blog post that predicts the future price of CAKE.
Frequently Asked Questions
How much will PancakeSwap be worth?
The price of PancakeSwap will depend on the success of the game. If it becomes a big hit, then the value of the game would be worth more than $1 million.
What will the graph be worth in 2021?
The graph will be worth $2.00 in 2021.
What is PancakeSwap prediction?
PancakeSwap is a new game mode where players can swap their current weapon for another one.
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