Tag: However
Litecoin Declines as Price Deepens in the Oversold Region
CAKE Technical Analysis: Bears Takedown The Year-Long Support of $10
The CAKE coin price is under extreme selling pressure evident by the breakout of $10, the year-long support level. Will it reach $5? PancakeSwap can be described as an automatic market maker (AMM) -A decentralized finance (DeFi) application that allows users to trade tokens for liquidity through farming and earning fees for the exchange. PancakeSwap lets users exchange BEP20 tokens, supply liquidity to exchanges, and receive fees. You can stake tokens of LP to earn the CAKE token and stake the token in order to make more money. Let us move ahead to read about PancakeSwap technical analysis. Past Performance of CAKE The CAKE coin price action shows a downfall of more than 40% in the past ten days from $12. The downfall takes support at $7but breaks below the annual support level of $10. The breakout marks a bearish milestone as the support level had pushed the price higher multiple times in 2021. However, the bearish takedown increases the selling pressure and breaks the bullish morale. CAKE/USD Daily Chart CAKE Technical Analysis The CAKE coin price action forms multiple bearish engulfing candlesticks in the daily chart. Moreover, the long wick formations in the daily candles reflect higher price rejection. The crucial Exponential Moving Averages (50, 100, and 200) maintain a bearish alignment from December 2021. The 50-day EMA provides constant dynamic resistance to any bullish attempts in the correction phase. The MACD Indicator shows a sudden fall in the fast line after the recent bearish crossover below the zero line. Moreover, the increasing intensity of the bearish histograms reflects a rise in selling pressure. The DMI Indicator shows a sharp rise in the ADX slope as it approaches 30%, reflecting a rise in the trend momentum. The DI lines indicate a downtrend in action because of a bearish alignment and a significant gap. Therefore, the technical indicators and the price action indicate a solid downtrend in action. That is why traders can shortly find the CAKE prices breaching below the freshly formed low at $7. Upcoming Trend The CAKE coin price breaks below the long-coming crucial horizontal support level at $10, which was in action from the start of 2021. PancakeSwap faces extreme selling pressure and can shortly breach $7. Therefore, sellers can target the level of $6.15 and $5 below the $7 mark. However, in the unlikely case of a reversal, the resistance levels at $9.5 and $11. At press time, the CAKE Technical Analysis widget by TradingView gives a “SELL” sign for the token. Technical Analysis for CAKEUSD by TradingView { “interval”: “1D”, “width”: “100%”, “isTransparent”: false, “height”: “100%”, “symbol”: “BINANCE:CAKEUSD”, “showIntervalTabs”: true, “locale”: “in”, “colorTheme”: “dark” }
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Weekly Cryptocurrency Market Analysis: Altcoins in Oversold Regions as Buyers Regroup for a Price Rebound
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Fantom’s latest higher low means this in the near term
Watering hole deploys new macOS malware, DazzleSpy, in Asia
Hong Kong pro-democracy radio station website compromised to serve a Safari exploit that installed cyberespionage malware on site visitors’ Macs
The post Watering hole deploys new macOS malware, DazzleSpy, in Asia appeared first on WeLiveSecurity
Bank of America says the US will release its CBDC by 2030.
NFT based blockchain gaming on the rise as FireZard hits highs with its new collection
Monitoring the Dark Web
By Montserrat Méndez García, Fintechnews.org Have you ever wondered what happens on the dark web and how all these actions could affect your organization? What is it about the dark web that makes it so dark? Is it worth taking the time to invest in monitoring the activity that happens there? The truth is that […]
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Best Bitcoin Lightning Network Wallets, Rated and Reviewed for 2022
The Lightning Network has been hailed as the solution to bitcoin’s scalability challenges and, so far, the off-chain payments solution has managed to gain substantial traction.
The post Best Bitcoin Lightning Network Wallets, Rated and Reviewed for 2022 appeared first on Bitcoin Market Journal.
Robert Kiyosaki is planning to add more bitcoins to his portfolio.
Robert Kiyosaki, a leading American businessman and author of Rich Dad Poor Dad, recently revealed that he is planning to enhance his Bitcoin portfolio during the market correction. The founder of Rich Global LLC told his followers that he purchased the crypto asset when it was trading near $6,000 and $9,000. Kiyosaki is not […]
Read full post Robert Kiyosaki is planning to add more bitcoins to his portfolio. on Chaintimes.com.
Uniswap Founder Roars JPMorgan on Twitter for Closing his Accounts
Uniswap’s founder Hayden Adams criticized investment banking giant JPMorgan Chase for closing down his accounts without any form of notice or explanation. (Read More)