cryptocurrency

PancakeSwap (CAKE) Price Prediction 2022 – Will Cake Hit $10 Soon?

  • The bullish cake price forecast is $4,720 to $9,345.
  • Swab Pie (Cake) The price may also hit $10 soon.
  • The bearish CAKE price prediction for 2022 is $2,588.

In the PancakeSwap (CAKE) 2022 Price Prediction, we use statistics, price patterns, RSI, RVOL and other information about CAKE to analyze the future movement of the cryptocurrency.

PancakeSwap (CAKE) Current Market Status

according to Queen GekkoPrice of PancakeSwap (CAKE) is $3.92 with a 24-hour trading volume of $46,394,800 at the time of writing. However, cake has increased by about 0.1% in the past 24 hours.

Furthermore, PancakeSwap (CAKE) has a circulating supply of 140,695,668 cakes. PancakeSwap (CAKE) trades on cryptocurrency exchanges such as Binance, PancakeSwap, FMFW.io, LBank, Huobi Global, and KuCoin.

What is PancakeSwap (CAKE)?

A decentralized finance (DeFi) protocol called PancakeSwap is an automated market maker (AMM) that enables users to trade tokens, renting liquidity in exchange for commissions. Launched in 2020, it is a decentralized exchange for trading BEP20 tokens on the Binance Smart Chain. PancakeSwap users can trade against the pool of liquidity using the automated market maker methodology. Users fill these pools by contributing money, in exchange for giving them Liquidity Provider (LP) tokens.

Token swaps, liquidity, provisioning, farming, perpetual trading, lottery, NFT market and playback board are among the various features that PancakeSwap offers to its users. It is one of the few DEXs that allows users to access a range of financial products in a single interface for a more comprehensive DeFi experience.

PancakeSwap users can also farm additional tokens – CAKE and SYRUP. Users can deposit and search LP tokens in a process that rewards users with CAKE. Users can bet CAKE tokens to get SYRUP, which also serves as a governance token within the exchange.

PancakeSwap (CAKE) Price Prediction 2022

PancakeSwap (CAKE) is currently ranked 80th on CoinGecko. CAKE price predictions for 2022 are explained below with a daily time frame.

CAKE/USDT Bearish Channel Pattern (Source: TradingView)

The above chart for PancakeSwap (CAKE) depicts a descending channel. A descending channel is also known as a descending channel. The descending channel consists of two parallel trend lines. The upper trend line, which joins the highs, and the lower trend line, which joins the lows, run parallel to the bottom. This pattern is characteristic of a bear market.

Currently, PancakeSwap (CAKE) is around $4,324. If the pattern continues, CAKE price could reach the $4,535 and $9,898 resistance levels. If the trend reverses, CAKE could drop to $3,512 and $2,703.

PancakeSwap (CAKE) Support and Resistance Levels

The chart below shows the support and resistance levels for PancakeSwap (CAKE).

cake USDT Support and Resistance Levels (Source: TradingView)

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for PancakeSwap (CAKE).

resistance level 1 $4,720
resistance level 2 6,611 dollars
resistance level 3 $9,345
Support level 1 $3,543
Support level 2 2.588 dollars
resistance and support level

The charts show that PancakeSwap (CAKE) has conducted an upward trend over the past month. If this trend continues, CAKE may work in tandem with the bulls breaking the resistance level at $9.345.

Accordingly, if investors turn against the cryptocurrency, the price of PancakeSwap (CAKE) could drop to close to $2,588, which is a bearish sign.

PancakeSwap (CAKE) Price Forecast 2022 – RVOL, MA and RSI

The relative size (RVOL) of the PancakeSwap (CAKE) is shown in the graph below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of CAKE is below the cutoff line, which indicates the weakness of the participants in the current trend.

Also, the moving average (MA) of PancakeSwap (CAKE) is shown in the above chart. Notably, the price of PancakeSwap (CAKE) is slightly above the 50 MA (short term), so it is in an uptrend. Currently, CAKE is in a bullish state. Therefore, there is a possibility of the cake trend reversing at any time.

Meanwhile, the relative strength index (RSI) for CAKE is 42.20. This means that PancakeSwap (CAKE) is nearly oversold. However, this means that a major cake price reversal could occur in the coming days. Therefore, traders need to trade carefully.

PancakeSwap (CAKE) Price Prediction 2022 – ADX, RVI

Let’s now take a look at the Average Directional Indicator (ADX) from PancakeSwap (CAKE). It helps to measure the overall strength of a trend. The indicator is the average of the values ​​of the expanding price range. This system attempts to measure the strength of price action in positive and negative trends using DMI indicators with ADX.

The chart above represents the ADX indicator for PancakeSwap (CAKE). Currently, CAKE’s ADX is in the 33.071 range, so it is pointing to a strong trend.

The chart above also represents the PancakeSwap (CAKE) Relative Volatility Index (RVI). RVI measures the continuous deviation of price changes over a period of time. CAKE’s RVI is under 50, which indicates high volatility. In fact, the RSI for the PancakeSwap (CAKE) is at 42.20 confirming a possible sell signal.

Comparison of CAKE, BTC and ETH

The chart below shows a price comparison between Bitcoin (BTC), Ethereum (ETH), and PancakeSwap (CAKE).

BTC Vs ETH Vs CAKE Price Comparison (Source: TradingView)

From the above chart, we can interpret that the CAKE price action is similar to BTC and ETH. This indicates that when the price of BTC and ETH rises or falls, the price of CAKE also increases or decreases, respectively.

PancakeSwap (CAKE) Price Prediction 2023

If lower price action completely slows down in momentum and the trend reverses, PancakeSwap (CAKE) It could reach $12 by 2023.

PancakeSwap (CAKE) Price Prediction 2024

With several network upgrades, PancakeSwap (CAKE) may be entering an upward trajectory. If the coin grabs the attention of major investors, CAKE could rise to $15 by 2024.

PancakeSwap (CAKE) Price Prediction 2025

If PancakeSwap (CAKE) maintains key resistance levels and continues to be recognized as a better investment option among investors over the next seven years, CAKE will rise to $18

PancakeSwap (CAKE) Price Prediction 2026

If PancakeSwap (CAKE) maintains key resistance levels and continues to be recognized as a better investment option among investors over the next four years, CAKE will rise to $21.

PancakeSwap (CAKE) Price Prediction 2027

If PancakeSwap (CAKE) maintains key resistance levels and continues to be recognized as a better investment option among investors over the next five years, CAKE will rise to $24.

PancakeSwap (CAKE) Price Prediction 2028

PancakeSwap (CAKE) holds a strong position as a better investment option for the next six years amid the trends in the highly volatile cryptocurrency market. By paying significant price hikes, CAKE will reach $27 in 2028.

PancakeSwap (CAKE) Price Prediction 2029

If investors flock and continue to place their bets on PancakeSwap (CAKE), this will see huge spikes. Cake could reach $30 by 2029.

PancakeSwap (CAKE) Price Prediction 2030

With greater developments in the primary attention token platform, the crypto community may continue to invest in CAKE over the next eight years and drive significant price hikes for the token. Thus, PancakeSwap (CAKE) could reach $33 by 2030.

conclusion

With the continuous improvements at PancakeSwapNetwork, we can say that 2022 is a good year for Cake. For this reason, the bullish price forecast for PancakeSwap (CAKE) in 2022 is $9,345. On the other hand, the bearish price prediction for the 2022 PancakeSwap (CAKE) price prediction is $2,588.

Moreover, with advances and upgrades in the core attention token ecosystem, CAKE’s performance will help reach an all-time high (ATH) of $43.96 soon. But, it could also be as high as $10 if investors think CAKE is a good investment in 2022.

Instructions

1. What is PancakeSwap (CAKE)?

PancakeSwap (CAKE) is the original tool icon for PancakeSwap. PancakeSwap is a decentralized exchange (DEX) that is home to the Binance Smart Chain.

2. Where can you buy PancakeSwap (CAKE)?

PancakeSwap (CAKE) is listed on several cryptocurrency exchanges including Binance, PancakeSwap, FMFW.io, LBank, Huobi Global, and KuCoin.

3. Will PancakeSwap (CAKE) reach a new ATH soon?

With the constant developments and updates within the PancakeSwap platform, PancakeSwap (CAKE) has a great potential to reach ATH soon.

4. What is the highest level currently (ATH) for a PancakeSwap (CAKE)?

On April 30, 2021, PancakeSwap (CAKE) reached an all-time high (ATH) of $43.96.

5. Is PancakeSwap (CAKE) a good investment in 2022?

PancakeSwap (CAKE) appears to be one of the most profitable cryptocurrencies this year. According to the achievements recorded by PancakeSwap in the past few months, CAKE is a good investment in 2022.

6. Can PancakeSwap (CAKE) reach $10?

PancakeSwap (CAKE) is one of the active cryptocurrencies that continues to maintain its bullish state. Ultimately, if this uptrend continues, PancakeSwap (CAKE) will hit $10 soon.

7. What will be the price of PancakeSwap (CAKE) by 2023?

PancakeSwap (CAKE) is expected to reach $12 by 2023.

8. What will be the price of cake by 2024?

PancakeSwap (CAKE) is expected to reach $15 by 2024.

9. How much will a cake cost by 2025?

PancakeSwap (CAKE) is expected to reach $18 by 2025.

10. What will be the price of cake by 2026?

PancakeSwap (CAKE) is expected to reach $21 by 2026.

Disclaimer: The opinion expressed in this graph is that of the author only. Not to be construed as investment advice. TheNewsCrypto team encourages everyone to do their own research before investing.

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