The inaugural sales event will include exclusive content from the Step into Cat Art Online Exhibition. HTC today announced the upcoming launch of Vive Bytes, a new marketplace specializing in anime, cartoon, and games (ACG) themed NFTs coming soon to its VR content platform Viveport. Opening next month to the general public, visitors can purchase exclusive NFTs […]
Space-based services and applications are increasingly important in our daily life, for the economy, the environment, the resources’ management and for our security.
BlueZilla Labs is best known for backing some of the most popular projects in the crypto industry early on. DOTPad will join the club that features industry pioneers like BSCPad, TronPad, ETHPad, ADAPad, and VelasPad. The project is gearing up for its IDO, the dates of which are yet to be announced. Here is a detailed […]
Will Papper and Ian Lee, the two co-founders of Syndicate, join Unchained to announce the release of Syndicate’s new product: Web3 Investment Clubs, an innovation they believe could end up[...]
In our latest round-up, we look at the USPTO unveiling new assistance programmes, Cambodian records revealing counterfeit case levels in 2021, and much more.
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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The wait is over as FireZard finally announces the drop of their first NFT (non-fungible tokens) collection with over 60 hand-drawn pieces of ZARD dragons! FireZard has just announced the launch of its NFT drop to be the first play-to-earn (P2E) trading card game on Binance Smart Chain. The world of non-fungible tokens and blockchain […]
LOS ANGELES – 22Red is proud to announce that Logan Mader, founding member of the band Machine Head, has joined their team as the new brand ambassador of the west […]