Cryptopolitan
2021-09-17 05:21:32

PancakeSwap price analysis: Bulls incapable of crossing $24 resistance as bears take over

TL;DR Breakdown The latest PancakeSwap price analysis reveals price movement has been bearish.Price levels have dropped today till $22.4.Support standing firm at $18.1. The PancakeSwap price analysis is going bearish for the day, as the price has receded back to its former level i.e. $22.4. The bulls have been continuously victorious through out the past week, and the PancakeSwap price underwent major improvement as well. This trend has been reversed today as the bears are once again in the winning state. The momentum is building up at a slow pace, as the bears are recovering after a long interval. CAKE/USD 1-day price chart: Bears eradicate further chances of elevation for CAKE The one day price chart for PancakeSwap price analysis is following a bearish momentum as the bears are trying to be at lead again. Their efforts have been fruitful so far, as the price has downgraded today and has moved down to level of $22.4. The bears have been at the front position during the previous week, which is why the moving average (MA) is quite lower i.e. $20.55 as compared to the price. The volatility is decreasing, and as per the analysis it is a positive hint for the future. CAKE/USD 1-day price chart. Source: TradingView As the volatility is decreasing, the Bollinger band values have adjusted themselves to meet the following levels; the upper band is at $26.4 level and the lower band is at $18.32 level. The Relative Strength Index (RSI...

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