This article is a PancakeSwap price prediction based on technical analysis. In this article, you will find the factors and criteria that we have considered when writing this price analysis and CAKE forecast.
Many cryptocurrencies rose and fell in a rollercoaster ride as market volatility continues to plague the world of crypto. Many signs in the news reached their highest point in all time and recently reached their lowest point. As a result, many traders are confusing, unsure of what to do, panic-selling, and lose money in the latest cryptocurrency crash.
Of course, CAKE traders are not immune to attacks. In May, CAKE hit an all-time high of $ 44.18. In the same month, CAKE fell to $ 9.52, according to coin information websites such as CoinMarketCap and CoinGecko. Is this cake still declining or improving and reaching the highest level in history? These are the questions we will address in this CAKE 2021 price analysis article.
What is PancakeSwap (CAKE)?
As appetizing as it sounds, PancakeSwap or CAKE has nothing to do with food. It is an automated market maker and a decentralized finance (DeFi) application. The platform is a Binance Decentralized Exchange (DEX) exchange run by anonymous developers – who seem to love breakfast and rabbit food. Due to its many similarities, it is often compared to Ethereum’s Uniswap and SushiSwap, but has many additional features that allow users to receive rewards.
What is an Automated Market Maker (AMM)? If you have not yet encountered the term, what does it mean? AMM is different from traditional centralized exchanges. You can trade digital assets on this platform. However, there is no custom book in which to match other traders. In an AMM, you trade against liquidity that is simply a collection of funds accumulated in a large digital candle. This is an essential element of decentralized financial protocols (DeFi).
The set of liquidity is combined with the funds of other users. These users deposit them in the liquidity tank and receive liquidity provider (LP) tokens in return. These tokens can be used to claim your share and part of the trading fee.
CAKE is the native symbol of the PancakeSwap platform. This token is the BEP-20 Pancake (CAKE). This token is one of many tokens used in the PancakeSwap protocol and is available for tokens in exchange.
PancakeSwap Tip: How to start using PancakeSwap and get CAKE tokens?
PancakeSwap is easy to use. First, you need to visit their website at https://pancakeswap.finance/ and link your wallet there. You can connect it to MetaMask, Binance Wallet, WalletConnect and Trust Wallet, and so on.
As mentioned, it supports MetaMask even if it is an Ethereum -based wallet. This is because the platform is built on top of the Binance Smart Chain (BSC), which supports interoperability between Ethereum -based wallets.
On the platform, there are options to exchange your tokens or provide liquidity in the “Pool” section. If you visit other sectors, there is an option to start ‘farming’.
You can farm CAKE tokens on the platform. But before you can start doing this, you must first provide cash for the PancakeSwap pool to be rewarded with CAKE tokens. You can return them to your platform and get more in return. And again, this would mean that you have to spend on these processes.
PancakeSwap Price Analysis 2021
Without further ado, let’s take a look at the charts in this CAKE Price Analysis 2021 article. The first indicator that we will analyze in this article is the simple 200-day moving average (SMA). This is an indicator that gives us a general analysis of the uptrend or downturn of the market.
As we can see in the chart below, several reductions moved the CAKE to the 200-day SMA. These small declines may be classified as declining in broader cattle markets. This is because most candles in the upper range of the SMA line are 200 days old. This means that the market as a whole is bullish.
Simple moving average 200-day cake (Source: TradingView)
Another indicator that can indicate an uptrend or downtrend is the Relative Strength Index (RSI). This is a very popular movement indicator that indicates the market is up or down. It also shows good buying and selling opportunities in general. Let’s take a look at the chart to see if the CAKE is over-sold or over-purchased.
CAKE Relative Strength Index (Source: TradingView)
This line is almost suspended in the middle, which means that this token has not been sold too much or bought too much. However, as we can see in the chart above, the RSI shows an uptrend in coherence with the 200-day SMA. Maybe it’s still a good time to shop. But as always, it can go in both directions. It can either reach the level of excessive buying or reach the level of excessive selling with downward pressure.
PancakeSwap Price prediction: Expert Analysis
While the initial phase for PancakeSwap was not very acceptable to users, it took a long time for CAKE to build and work on that trust, and to prove the foundation of its Blockchain. Undoubtedly, this was a leading title, and the price of the last 24 hours is rising today by about $ 19. Here, many cryptographers believe that the price of PancakeSwap (CAKE) has a lot of potentials and encourages users to make their brilliant recommendations for buying or selling the following for this digital asset: –
According to the CAKE price prediction, a long-term increase is expected. The 2026 price forecast is $ 354,411. With 5 years of investment, the price change of PancakeSwap (CAKE) is expected to be around + 1793.93 ٪ +. Wallet Investor
According to CAKE forecasts, the coin may triple in six years, say by 2026, the coin should be at $ 63.6 on the bullish chart. Digital Coin Price
According to the PancakeSwap price prediction, the currency may trade around $ 79.87 at the end of the year and $ 295.48 by the end of the next 5 years. GOV Capital
According to our price forecast, at the beginning of December 2021, the price of PancakeSwap (CAKE) will be around $ 22.75. The maximum price is $ 24.34, the minimum price is $ 19.11 for December 2021. The average price of PancakeSwap for December 2021 is $ 21.72. PancakeSwap price prediction at the end of December 2021 is $ 22.75. Coins Kid
According to the PancakeSwap price prediction, it may exceed $ 107 by the end of this year and $ 845 by 2025. Cryptocurrency Price Prediction
Based on our technical analysis and price forecast, CAKE price has short-term and long-term accumulation. The price of PancakeSwap (CAKE) may rise to an average of $ 55.40 by the end of March 2022. Reddit Community
PancakeSwap Price prediction 2021
The last technical indicator we use to determine the price direction of this CAKE Price Prediction 2021 article is the Ichimoku cloud. This indicator is a set of different indicators, ie delay distance, baseline, conversion line, lead 1 and lead 2. These indicators show the levels of support and resistance. In addition, by showing the averages and plotting them on a graph, it shows motion and direction of motion.
CAKE Ichimoku Cloud Indicators (Source: TradingView)
There are several findings that we can see in the Ichimoku Cloud CAKE chart. First of all, the delay distance (white line), also known as the chico aperture, shows two signals. Since the lines are generally at the top, this indicates an uptrend. However, if we zoom in, we can see a clear downward convergence through the lag distance and the conversion line (blue line), and the baseline (yellow line). This indicates a downtrend.
CAKE Delay in Downward Convergence (Source: TradingView)
If the lag distance goes down with each line, it indicates a downtrend. In the diagram above, we can clearly see that the delay distance passes through the conversion line and the baseline. This indicates a strong downward feeling. However, we can also see that it was quickly supported and returned to the uptrend.
In the bullish market, the conversion line will be the second-longest. As we can see in the chart above, this is true for the CAKE price movement.
CAKE Ichimoku Cloud (Source: TradingView)
Aside from the generally bullish sentiment, let’s talk about price levels. As seen above, Ichimoku Could represents an area of resistance and support. You can see the level of support and resistance clearly in the chart. If CAKE improves, support will be around $ 28 and resistance at $ 33. If the downtrend continues, support will be around $ 22.5 and resistance at $ 27.
Is it possible for CAKE to reach $ 1 in 2021? Yes, anything is possible. If we look only at a short-term downtrend in the broader cattle market, CAKE could reach its all-time high of around $ 100 by the end of 2021. However, if the downtrend continues, we may see a downtrend. Price reduction up to $ 10 to $ 5.
Always keep in mind that this CAKE Price Prediction 2021 article is here to help you make your purchasing decision and should not be taken as a financial recommendation. No one knows exactly how the market will work. So, please buy at your own risk!
PancakeSwap Price prediction 2022
Starting late last year, CAKE will continue its upward trend throughout 2021 and will continue the wave of news until 2022. Somewhere between 2021 and 2022, an increase in the price of CAKE is visible, which brings it to a higher point. It was priced at $ 35 and then a possible correction was made until October 2022.
PancakeSwap price prediction 2023
Based on technical analysis, fluctuations between $ 40 and $ 50 PancakeSwap may show some resistance. However, it is not possible to say with certainty about the CAKE price prediction whether these three years will mark the golden age of this cryptocurrency or not. However, the price of PancakeSwap (CAKE) is flexible and consistent. The global economy may also have an impact on the price of PancakeSwap.
PancakeSwap price prediction 2024
Some experts also predict that price correction may be effective during this period, as it will hit the market by about $ 60 in 2025. Therefore, achieving forward-looking goals, one of the things that can be guaranteed about CAKE is that the stars are bright for this asset compared to other coins.
PancakeSwap Price prediction 2025
By revolutionizing the entire global trading landscape, CAKE sets the stage for significant footprinting in this ecosystem. Some speculation about CAKE in 2025 also indicates that CAKE will enter the cattle market by 2025. The price of PancakeSwap (CAKE) may even reach $ 67. It seems that PancakeSwap is now trying to confirm a record that shows its position instability.
What remains to be seen is how the mine will be considered by governments around the world, and whether they, too, recognize the intrinsic value of this cryptocurrency for investment equal to other valuable coins and assets such as gold.
The value of PancakeSwap is very promising, it supports all financial industry experts and cryptographers. They believe that a strong algorithm and consistent performance are supported by fundamental science. CAKE can be a great financial investment after Bitcoin cloud mining, only if you invest at the right time by measuring the right price.
While it is leaping into a highly competitive industry, Pancake Swap adds something exciting and fascinating to the DeFi business, and the open trade is integrated into the pledge of Binance’s Smart Chain’s high-speed, high-scale, and afforded low-fare framework.
Thus, the development of PancakeSwap depends heavily on Binance and is decentralized based on expectations for greater synergy and cross-linking with the larger ecosystem. Everything has a beginning, and similar doubts have been expressed throughout history about many of China’s block rooms, especially since DeFi emerged. Not long ago, PancakeSwap was no different from DeFi, and given the hot competition, this project could be worth a look.