{"id":187382,"date":"2023-11-04T18:26:31","date_gmt":"2023-11-04T12:56:31","guid":{"rendered":"https:\/\/dripp.zone\/news\/is-cake-still-a-buy-post-55-rise-crypto-news\/"},"modified":"2023-11-04T18:26:35","modified_gmt":"2023-11-04T12:56:35","slug":"is-cake-still-a-buy-post-55-rise-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/is-cake-still-a-buy-post-55-rise-crypto-news\/","title":{"rendered":"Is $CAKE Still a Buy Post 55% Rise? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-163411\">\n<p>\nPancakeSwap Price Prediction: The high momentum rally in Cake price challenges a long-coming resistance of $1.95, will it surpass it?\t\t\t\t<\/p>\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img width=\"1200\" height=\"681\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/11\/PEsZ1MQU-e1699102261480.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"CAKE price\" decoding=\"async\" fetchpriority=\"high\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 5 seconds ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">Since the beginning of November, many major altcoins have been experiencing uncertain price behavior as the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/will-bitcoin-price-uncertainty-turn-to-correction\/\">top cryptocurrencies have moved sideways<\/a> due to overhead supply. However, in contrast to this indecisiveness, the Cake price has exhibited impressive growth from $1.21 to $1.90, surging 58% in the last four days. This bullish uptick is likely attributed to the announcement of the Position Manager functionality on the PancakeSwap decentralized crypto exchange. The question is whether this fundamental development is sufficient to sustain a rally beyond $2.00.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/bitcoin-btc-price-may-hit-200k-heres-why\/\">Bitcoin (BTC) Price May Hit $200k; Here\u2019s Why<\/a><\/p>\n<h2><strong>Is the Current Recovery Sustainable?\u00a0<\/strong><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The overhead supply at $.9 could trigger an 8-14% correction<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A bullish crossover between the 20-and-100-day EMA would bolster buyers to maintain a bullish recovery.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The intraday trading volume in the <\/span><span style=\"font-weight: 400;\">Pancakeswap <\/span><span style=\"font-weight: 400;\">coin is $50 Million, indicating an 18% gain.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"PancakeSwap Price Prediction\" width=\"1946\" height=\"1104\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/p\/PEsZ1MQU.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/p\/PEsZ1MQU.png\" alt=\"PancakeSwap Price Prediction\" width=\"1946\" height=\"1104\"\/><\/noscript>Source- <\/span><span style=\"font-weight: 400;\">Tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/pancakeswap\/\">pancakeswap token price<\/a> began its recovery when it bounced off the $1.05 support level on October 28th. However, the rally gained significant momentum on November 1st following the announcement of a Position Manager feature, developed in partnership with the Decentralized Finance Protocol, Bril Finance.\u00a0<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">This feature allows users to deposit funds into a wallet, which are then automatically allocated to liquidity pools for yield farming. It\u2019s important to note that news-driven rallies like this one often experience minor pullbacks to validate their sustainability for higher prices.\u00a0<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">Therefore, if the coin price encounters resistance around the $1.942 mark, it might undergo a minor pullback to the $1.73 level, aligned with the 23.6% <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/fibonacci-retracement\/\">Fibonacci retracement<\/a>, followed by the $1.61 level(38.2% FIB). Until the prices sustain above the 50% retracement level at $1.5, the bullish trend remains.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Anyhow, such a pullback could potentially rejuvenate bullish momentum and propel the price beyond the $2 mark.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">CAKE vs BTC Performance<\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-163413\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"CAKE vs BTC\" width=\"1200\" height=\"675\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/11\/image_2023-11-04_18-13-49-e1699102106514.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-163413\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/11\/image_2023-11-04_18-13-49-e1699102106514.png\" alt=\"CAKE vs BTC\" width=\"1200\" height=\"675\"\/><\/noscript>Source: Coingape| Pancakeswap Vs Bitcoin Price<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><span style=\"font-weight: 400;\">When comparing the one-year price behavior, it\u2019s clear that the leading cryptocurrency, Bitcoin, has outperformed the Cake token price. While <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/bitcoin\/\">Bitcoin price<\/a> has shown steady progress with higher highs and higher lows, the CAKE price has experienced a downtrend, remaining relatively flat close to the $1 mark<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>The Moving Average Convergence Divergence: <\/b><span style=\"font-weight: 400;\">A wide gap between the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/macd-moving-average-convergence-divergnece\/\">MACD<\/a> and the signal line in a bullish crossover stage, indicating strong buying sentiment in the market.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Exponential Moving Averages: <\/b><span style=\"font-weight: 400;\">The recently reclaimed 200-day <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA<\/a> hovering around the $1.75 mark, could provide robust support amid an anticipated pullback.<\/span><\/li>\n<\/ul><\/div>\n<div class=\"MarketBottm\">\n<div class=\"Socilsm\">\n<p>\n                    Share this article on:<\/p>\n<div class=\"LinksSo\">\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/share\/url?url=https:\/\/coingape.com\/markets\/pancakeswap-price-prediction-cake-still-a-buy-post-55-rise\/&#038;text=PancakeSwap Price Prediction: Is $CAKE Overbought at a 55% Increase, or Just Beginning?\" class=\"TeleS\"><i class=\"fa fa-paper-plane-o\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/pancakeswap-price-prediction-cake-still-a-buy-post-55-rise\/\" data-action=\"share\/whatsapp\/share\" class=\"TeleSwp\"><i class=\"fa fa-whatsapp\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/share?url=https:\/\/coingape.com\/markets\/pancakeswap-price-prediction-cake-still-a-buy-post-55-rise\/\" class=\"tw_new_logo\"><br \/>\n<img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\"\/><\/noscript><br \/>\n<\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/coingape.com\/markets\/pancakeswap-price-prediction-cake-still-a-buy-post-55-rise\/\" class=\"TeleSFb\"><i class=\"fa fa-facebook\"\/><\/a>\n                    <\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA163411\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD163411\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PancakeSwap Price Prediction: The high momentum rally in Cake price challenges a long-coming resistance of $1.95, will it surpass it? Published 5 seconds ago Since the beginning of November, many major altcoins have been experiencing uncertain price behavior as the top cryptocurrencies have moved sideways due to overhead supply. However, in contrast to this indecisiveness, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":187383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-187382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/187382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=187382"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/187382\/revisions"}],"predecessor-version":[{"id":187384,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/187382\/revisions\/187384"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/187383"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=187382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=187382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=187382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}