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1inch, Celsius (CEL) and PancakeSwap (CAKE) rally as traders return to DeFi

Published 04/08/2021, 03:37 PM
Updated 04/08/2021, 05:20 PM
1inch, Celsius (CEL) and PancakeSwap (CAKE) rally as traders return to DeFi

Bitcoin’s (BTC) range-bound action since its breakdown at the $61,000 level has confused analysts. Some are projecting that a sharper correction could be in development while others remain steadfast in their belief that the uptrend will resume shortly.

According to data from Ecoinometrics, history suggests that Bitcoin price breaks out between 300 and 350 days following a supply halving. Currently, 329 days have passed since the latest halving, and if history repeats itself Bitcoin could soon witness a breakout.

Crypto market data daily view. Source: Coin360
1INCH/USDT daily chart. Source: TradingView
CEL/USD daily chart. Source: TradingView
VORTECS™ Score (green) vs. CAKE price. Source: Cointelegraph Markets Pro
CAKE/USDT daily chart. Source: TradingView

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