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Bulls Continue To Dominate As Pancakeswap Price Nears $3.74

Published 01/18/2023, 10:45 AM
Updated 01/18/2023, 11:00 AM
© Reuters. Bulls Continue To Dominate As Pancakeswap Price Nears $3.74

  • PancakeSwap has gained a value of more than 0.92 percent over the last 24 hours.

  • Both the hourly and the daily technical indicator are currently in a bullish state.

  • The price action recently created a bullish engulfing candlestick pattern.

PancakeSwap token shows rising signs as the market shows massive upside potential. The bulls have regained their control of the Pancakeswap market, which will change the course of the market for the better, and CAKE now expects the bullish period to take over in the next few days.

CAKE/USD pair has increased reaching above the $3.74 level, the resistance level for CAKE/USD is at $3.78 and the support level is at $3.70.

Looking at the daily chart, we can see that PancakeSwap’s price is currently in a bullish trend. The prices are trading along with the ascending channel, and a breakout from the current range could set the tone for the next move. The buyers are currently in control as the prices are trading above the moving averages.

The post Bulls Continue To Dominate As Pancakeswap Price Nears $3.74 appeared first on Coin Edition.

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