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Cake wraps before round up to $4.30

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Since PancakeSwap (CAKE) reached an all-time high (ATH) in May 2021, Cake price It was in a downtrend on the long-term chart. The price fell to $2.37 in June 2022 and has been trying to recover since then. However, CAKE is still bearish in the long-term, and it may continue in the same path in Bitcoin’s tandem price action.

However, in recent weeks, CAKE has shown signs of improvement, with the price rising steadily from the low of June 2022. In the past months, the price of CAKE has surged 100% to hit a high of $5 in late September. CAKE posted another increase of about 8%, but it wasn’t enough to create a new high.

Pancakeswap is positive on the basics

The recent increase in the price of Pancakeswap is mainly due to the Community Farm Initial Offering (cIFO), which gave long-term pancake workers early access to invest in new ventures. CIFO has also increased engagement within the CAKE community and with the entire PancakeSwap ecosystem, while simultaneously increasing demand for CAKE tokens.

Accordingly, the number of mentions on social media of PancakeSwap rose nearly 100% in the next few days after CIFO’s announcement, indicating the level of impact CIFO had on the crypto community.

Hence, the Decentralized Exchange Token (DEX) has been surging recently despite the bearish conditions prevailing in the market. On the other hand, however, recent PancakeSwap NFTs failed to accumulate sufficient funds, which was a significant symptom of the decline in interest in NFTs among crypto enthusiasts. Due to the failure of NFT sales, the price of the token started to rebound south, as key support structures were broken.

Pancakeswap is gearing up for an extra season of $4.30

From the 12-hour chart, it can be seen that the CAKE price action gave rise to a Pennant chart pattern with converging trend lines during the consolidation period. A pennant chart pattern is a continuation chart pattern that is displayed when a token experiences a significant upward and downward movement, before consolidating briefly and continuing in the same direction.

Given the volume in the Pennant, the consolidation period of the initial move has a lower volume, which indicates that the next possible price move will be a breakout move in the same direction and on a larger volume.

Once the breakout occurs, it will be the perfect entry point for traders looking to enter new long or short positions. The upper trend line (resistance) of the flag also corresponds to reaction highs. Traders should watch for a breakout from these levels as a buying opportunity and potentially profit from the subsequent breakout.

At the time of writing, CAKE was trading at $3.95 on CoinGecko, up 0.5% in an hour, and down 0.2% in the last 24 hours.

12-hour CAKE/USD chart

TradingView Chart: CAKE/USD

CAKE is trying to cross 9 periods exponential moving average and 21 periods up which indicates an uptrend. If buyers increase their momentum, cake The price will breach the $4.14 resistance, which could cause the price to jump 7.47% to $4.30. However, if the sellers resist the buyers at the $4.0 level, the price could decline, breaching the $3.80 support, which could bring the cake down by 7.50% to $3.62.

What way forward?

When CAKE reached $5 last week, the RSI on the 12-hour chart was close to 70 shortly before the price dropped. The Relative Strength Index (RSI) is currently at 50, which indicates that the CAKE market is in a neutral position.

The Parabolic SAR is positive, which indicates that the price of CAKE may rise as demand pressure increases. The indicator tracks the Pancakeswap price, which supports the uptrend theory and thus a potential entry point for traders.

However, its pace is slow, indicating the slow movement of CAKE price as bulls and bears vie for control.

However, due to the slow pace of the SAR (determined by the convergence of the blue dots), CAKE prices could move in either direction. Crypto remains very volatile as FUD throughout the crypto market remains high.

Promising codes on pre-sale

As CAKE prepares to increase prices, so does interest in Calvaria and RobotEra.

Calvaria

Calvaria is an upcoming Ethereum-based P2E gaming platform that is set to offer players the chance to compete in P2E battles for real money. Through staking pools, NFT cards and mods, and a decentralized structure, Calvaria offers players a great sense of accountability over the game while at the same time providing a new setting for it (DAO).

Play-to-Earn (P2E) is set behind the veil of death. It provides a way for players to duel, earn and upgrade their gaming cards and become the ultimate force on the battlefield. You can buy $RIA with Ethereum (ETH) or stablecoins before the price goes up after the pre-sale.

The Calvarya RIA token will be tradable starting in the fourth quarter of 2022 after landing on centralized and decentralized exchanges once the pre-sale ends. The Calvaria pre-show began on October 10, 2022, and wrapped up the first pre-show shortly after.

RIA is an ERC-20 token that powers an NFT-based P2E battle card game. Based on the current market sentiment and the potential of this P2E cryptocurrency, Calvaria’s RIA token is very promising. Judging Calvaria by the merits of its first pre-sale, there’s a bullish case to be made in reference to pre-sales by projects like Tamadoge and IBAT that have thrived despite the bear market.

Investors are also attracted to Calvaria because it is a beneficial cryptocurrency. RIA falls into the asset class that the crypto market desperately needs to experience a major recovery. Uniswap is likely to become the first DEX to list Calvaria.

Calvaria is currently offering a giveaway, a chance for you to get up to $100,000 worth of RIA.

The project is currently in pre-sale phase 5 with 1 USDT buy up to LE$30.77. At this point, up to 70% of the tokens have already been sold, so don’t miss out on the remaining 30% for any reason.

RobotEra

RobotEra It is an exciting new multiverse cryptocurrency project designed to allow players to create a colorful and immersive virtual reality experience. The project is building a sandbox-like metaverse of rebuilding planets where players become bots and can manage their territory while co-creating the world. Players can also obtain resources from Earth and create robot companions to interact with in the multiverse.

To participate in the multiverse, users are required to purchase a RobotEra NFT, which serves as their in-game avatar upon first login. The RobotEra multiverse is powered by the $TARO token and has already been named one of the hottest pre-sales of 2022. Players can buy the TARO token directly with USDT or with ETH in their wallets.

The RobotEra pre-sale offers players the chance to enter TARO at the lowest possible price.

Accordingly, after the token is listed on the exchanges, the price of TARO is expected to increase significantly compared to the buying rate in the pre-sale phases. Once the public pre-sale ends, you can use the claim page to claim your purchased TARO. Get into the ground floor of the RobotEra pre-sale by purchasing your $TARO tokens today!

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Blockchain

BNT/USD is trading near the $0.50 resistance

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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

Related

Dash 2 Tadawul – High Potential Pre-Selling

Dash 2 Trading
  • Active pre-sale is live now – dash2trade.com
  • Featured in Cointelegraph – $10 Million Raised
  • Know Your Customer verified and reviewed
  • The original code for the crypto signals ecosystem

Dash 2 Trading


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Blockchain

DYDX/USD could rise above $1.20

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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

Related

Dash 2 Tadawul – High Potential Pre-Selling

Dash 2 Trading
  • Active pre-sale is live now – dash2trade.com
  • Featured in Cointelegraph – $10 Million Raised
  • Know Your Customer verified and reviewed
  • The original code for the crypto signals ecosystem

Dash 2 Trading


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Blockchain

SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

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