PancakeSwap Dropped -31.08% in Last Month and is Predicted to Drop to $1.51 By Jun 08, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• PancakeSwap is up 4.82% today against the US Dollar
• CAKE/BTC increased by 3.60% today
• CAKE/ETH increased by 3.08% today
• PancakeSwap is currently trading 16.06% above our prediction on Jun 08, 2023
• PancakeSwap dropped -31.08% in the last month and is down -59.73% since 1 year ago

CAKE price is expected to drop by -13.84% in the next 5 days according to our PancakeSwap price prediction

is trading at $ 1.75 after gaining 4.82% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 1.24% in the same time period. CAKE performed well against BTC today and recorded a 3.60% gain against the world’s largest cryptocurrency.

According to our PancakeSwap price prediction, CAKE is expected to reach a price of $ 1.51 by Jun 08, 2023. This would represent a -13.84% price decrease for CAKE in the next 5 days.

CAKE Price Prediction Chart

Buy/Sell PancakeSwap

What has been going on with PancakeSwap in the last 30 days

PancakeSwap has been displaying a negative trend recently, as the coin lost -31.08% in the last 30-days. The medium-term trend for PancakeSwap has been bearish, with CAKE dropping by -53.87% in the last 3 months. The long-term picture for PancakeSwap has been negative, as CAKE is currently displaying a -59.73% 1-year price change. On this day last year, CAKE was trading at $ 4.35.

PancakeSwap reached its all-time high price on Apr 30, 2021, when the price of CAKE peaked at $ 44.02. The current CAKE cycle high is $ 1.80, while the cycle low is at $ 1.51. CAKE has been displaying high volatility recently – the 1-month volatility of the coin is at 14.08. PancakeSwap recorded 15 green days in the last 30 days.

PancakeSwap technical analysis for today – Jun 03, 2023

The sentiment in the PancakeSwap markets is currently Bearish, and the Fear & Greed index is reading Neutral. The most important support levels to watch are $ 1.69, $ 1.62 and $ 1.58, while $ 1.80, $ 1.84 and $ 1.91 are the key resistance levels.

Bearish sentiment for PancakeSwap

10 indicators are currently signaling a bullish prediction for PancakeSwap, while 18 indicators are showing a bearish forecast. With 64% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for PancakeSwap.

Crypto market is currently experiencing Neutral

Currently, the Fear & Greed index is at 53 (Neutral), which signals that investors have a neutral outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

PancakeSwap moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how PancakeSwap is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for PancakeSwap is at 40.59, suggesting that CAKE is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of PancakeSwap over the last 50 days. Currently, PancakeSwap is trading above the SMA 50 trendline, which is a bullish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the CAKE closing price for the last 200 days. CAKE is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this PancakeSwap prediction

After considering the above factors, we can conclude that the current forecast for PancakeSwap price prediction is Bearish. CAKE would have to decrease by -13.84% to hit our $ 1.51 target within the next five days. Moving forward, it will be important to monitor the CAKE market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term PancakeSwap price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.