- Bullish CAKE price prediction is $3.357 to $4.357.
- The CAKE price will also reach $3 soon.
- CAKE’s bearish market price prediction for 2022 is $2.486.
In PancakeSwap (CAKE) price prediction 2022, 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 CoinGecko, the price of PancakeSwap (CAKE) is $2.94 with a 24-hour trading volume of $39,745,100 at the time of writing. However, CAKE has decreased to 0.2% in the last 24 hours.
Moreover, PancakeSwap (CAKE) has a circulating supply of 142,760,804 CAKE. Currently, CAKE trades in cryptocurrency exchanges such as Binance, PancakeSwap, HitBTC, FMFW.io, LBank, Bitget
What is PancakeSwap (CAKE)?
A decentralized finance (DeFi) protocol called PancakeSwap is an automated market maker (AMM) that enables users to trade tokens, leasing out liquidity in exchange for commissions. It was launched in 2020 and is a decentralized exchange for trading BEP20 tokens on Binance Smart Chain. Users of PancakeSwap can trade against a liquidity pool using an automated market maker methodology. Users fill these pools by contributing money, in exchange for which they are given liquidity provider (LP) tokens.
Token swaps, liquidity, provision and farming, staking perpetual trading, lottery, NFT marketplace, and launchpad are the various features that PancakeSwap offers to its users. It is one of the few DEXs that gives users access to a range of financial products in a single interface for a more well-rounded DeFi experience.
Users of PancakeSwap can additionally farm the additional tokens – CAKE and SYRUP. Users can deposit LP tokens, looking them up in a process that rewards users with CAKE. Users can bet CAKE tokens to acquire SYRUP, which also serves as a governance token within the exchange.
PancakeSwap (CAKE) Price Prediction 2022
PancakeSwap (CAKE) holds the 94th position on CoinGecko right now. CAKE price prediction 2022 is explained below with a weekly time frame.
A falling wedge pattern is bullish, although it appears after a bearish trend. It signifies that bulls have lost their momentum, and bears have temporarily taken control of the price. As a result, the price starts to make new lower lows, but at a corrective space.
A bullish trend forms after a significant event by encouraging buyers to long for an asset with the hope of future price appreciation. When lower highs and lower lows form, as in a falling wedge, security remains in a downtrend.
Currently, CAKE is in the range of $6.01. If the pattern continues, the price of CAKE might fall to the support level of $5.77 If the trend reverses, then the price of CAKE may reach the resistance levels at $7.15 and $8.57.
PancakeSwap (CAKE) Support and Resistance Levels
The chart below shows the support and resistance levels of PancakeSwap (CAKE).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of PancakeSwap (CAKE).
| Resistance Level 1 | |
| Resistance Level 2 | |
| Resistance Level 3 | |
| Support Level 1 | |
| Support Level 2 |
The charts show that CAKE has performed a bullish trend over the past month. If this trend continues, CAKE might run along with the bulls overtaking its resistance level at $4.872.
Accordingly, if the investors turn against the crypto, the price of the CAKE might plummet to almost $2.486, a bearish signal.
PancakeSwap (CAKE) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of PancakeSwap (CAKE) is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of CAKE lies above the cutoff line, indicating strong participants in the current trend.
Moreover, the Moving Average (MA) of PancakeSwap (CAKE) is shown in the above chart. Notably, the CAKE price lies below 50 MA (short-term), so it is completely in a downward trend. Currently, CAKE is in a bearish state. There is a possibility of a reversal trend of CAKE at any time.
Meanwhile, the relative strength index (RSI) of the CAKE is at a level of 46.14. This means that CAKE is in an oversold state. However, this gives confidence to the traders to trade without any fear.
The above chart represents the ADX of PancakeSwap (CAKE). Currently, CAKE lies in the range of 8.43, so it indicates a weak trend.
From the above chart, the Relative Volatility Index (RVI) of PancakeSwap (CAKE). RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of CAKE lies above 50, indicating higher volatility. In fact, CAKE’s RSI is at 53.77, thus confirming a potential buy signal.
Comparison of CAKE with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and PancakeSwap (CAKE).
From the above chart, we can interpret ETH, BTC, and CAKE are moving in the opposite direction with respect to that of BTC and ETH. This indicates that when the price of BTC and ETH increase, the price of CAKE decreases. When the price of BTC and ETH decrease, the price of CAKE increases.
PancakeSwap (CAKE) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, PancakeSwap (CAKE) might probably attain $8 by 2023.
PancakeSwap (CAKE) Price Prediction 2024
With several upgrades in the network, PancakeSwap (CAKE) might enter a bullish trajectory. If the coin grabs the attention of major investors, CAKE might rally to hit $11 by 2024.
PancakeSwap (CAKE) Price Prediction 2025
If PancakeSwap (CAKE) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, CAKE will rally to hit $14
PancakeSwap (CAKE) Price Prediction 2026
If PancakeSwap (CAKE) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, CAKE will rally to hit $17
PancakeSwap (CAKE) Price Prediction 2027
If PancakeSwap (CAKE) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, CAKE will rally to hit $20.
PancakeSwap (CAKE) Price Prediction 2028
If PancakeSwap (CAKE) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, CAKE will hit $23.
PancakeSwap (CAKE) Price Prediction 2029
If investors flock in and continue to place their bets on PancakeSwap (CAKE), it would witness major spikes. CAKE might hit $26 by 2029.
PancakeSwap (CAKE) Price Prediction 2030
With greater advancements in the PancakeSwap ecosystem, the crypto community might continue to invest in PancakeSwap (CAKE) for the next 8 years and drive significant price rallies for the token. Hence, PancakeSwap (CAKE) might hit $29 by 2030.
Conclusion
With continuous improvements in the PancakeSwap network, we can say that 2022 is a good year for CAKE. For this reason, the bullish price prediction of PancakeSwap (CAKE) in 2022 is $4.872. On the other hand, the bearish price prediction of PancakeSwap (CAKE) for 2022 is $2.486.
Furthermore, with the advancements and upgrades in the PancakeSwap ecosystem, the performance of PancakeSwap (CAKE) might hit $3 gaining investors’ attention. It would also rise to reach above its all-time high (ATH) of $43.96 in the near future.
FAQ
PancakeSwap(CAKE) is the native utility token of PancakeSwap. PancakeSwap is a decentralized exchange (DEX) native to the Binance Smart chain.
PancakeSwap (CAKE) has been listed on many crypto exchanges which include Binance, PancakeSwap, HitBTC, FMFW.io, LBank, Bitget.
With the ongoing developments and upgrades within the PancakeSwap platform, PancakeSwap (CAKE) has a high possibility of reaching its ATH soon.
On July 12, 2022, PancakeSwap (CAKE) reached its new all-time high (ATH) of $43.96.
PancakeSwap (CAKE) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of PancakeSwap in the past few months, CAKE is considered a good investment in 2022.
PancakeSwap (CAKE) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then PancakeSwap (CAKE) will hit $3 soon.
PancakeSwap (CAKE) price is expected to reach $8 by 2023.
PancakeSwap (CAKE) price is expected to reach $11 by 2024.
PancakeSwap (CAKE) price is expected to reach $14 by 2025.
PancakeSwap (CAKE) price is expected to reach $17 by 2026.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not interpret as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Source: https://thenewscrypto.com/pancakeswap-cake-price-prediction