PancakeSwap (CAKE) Price Prediction 2022 – Will CAKE Hit $7 Soon?

• Bullish CAKE price prediction is $3.377 to $5.805.
• Pancake Swap (CAKE)  price might also reach $7 soon.
• Bearish CAKE  price prediction for 2022 is $2.501.

In PancakeSwap (CAKE) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about CAKE to analyze the future movement of the cryptocurrency. 

PancakeSwap (CAKE) Current Market Status

According to CoinGecko, the price of Pancake Swap (CAKE)  is $3.97 with a 24-hour trading volume of $80,714,180 at the time of writing. However, CAKE has increased by nearly 1.2% in the last 24 hours.

Moreover, Pancake Swap (CAKE)  has a circulating supply of 142,353,022 CAKE. Pancake Swap (CAKE)  trades in cryptocurrency exchanges such as Binance, PancakeSwap, FMFW.io, KuCoin, LBank, Huobi Global.

What is PancakeSwap (CAKE)?

A decentralized finance (DeFi) protocol called PancakeSwap is an automated market maker (AMM) that enables users to trade tokens, leasing out liquidity in exchange for commissions. It was launched in 2020 and is a decentralized exchange for trading BEP20 tokens on Binance Smart Chain. Users of PancakeSwap can trade against a liquidity pool using an automated market maker methodology.  Users fill these pools by contributing money, in exchange for which they are given liquidity provider (LP) tokens.

Token swaps, liquidity, provision and farming, staking perpetual trading, lottery, NFT marketplace, and launchpad are the various features that PancakeSwap offers to its users. It is one of the few DEXs that gives users access to a range of financial products in a single interface for a more well-rounded DeFi experience.

Users of PancakeSwap can additionally farm the additional tokens – CAKE and SYRUP. Users can deposit LP tokens, looking them up in a process that rewards users with CAKE. Users can bet CAKE tokens to acquire SYRUP, which also serves as a governance token within the exchange. 

PancakeSwap (CAKE) Price Prediction 2022

PancakeSwap (CAKE) holds the 88th position on CoinGecko right now. CAKE price prediction 2022 is explained below with a weekly time frame.

The above chart of Pancake Swap (CAKE)  laid out a Descending Channel pattern. Descending channel also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market.

Currently, Pancake Swap (CAKE)  is in the range of $3.967. If the pattern continues, the price of CAKE  might reach the resistance levels of $4.152, $5.270, and $9.434. If the trend reverses, then the price of CAKE may fall to $3.967 and $2.412.

PancakeSwap (CAKE) Support and Resistance Levels

The chart below shows the support and resistance levels of PancakeSwap (CAKE).

From the above daily time frame, we can clearly interpret the following as the resistance and support levels of PancakeSwap (CAKE).

Resistance Level 1	$3.377
Resistance Level 2	$4.890
Resistance Level 3	$5.805
Support Level 1	$2.841
Support Level 2	$2.501

The charts show that Pancake Swap (CAKE)   has performed a bullish trend over the past month. If this trend continues, CAKE might run along with the bulls overtaking its resistance level at $5.805.

Accordingly, if the investors turn against the crypto, the price of Pancake Swap (CAKE)   might plummet to almost $2.501, a bearish signal.

PancakeSwap (CAKE) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Pancake Swap (CAKE)  is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of CAKE lies below the cutoff line, indicating weak participants in the current trend.

Also, the Moving Average (MA) of Pancake Swap (CAKE)  is shown in the chart above. Notably,  Pancake Swap (CAKE)  price lies above 50 MA (short-term), so it is in an uptrend. Currently, CAKE has entered a bullish state. Therefore, there is a possibility of a reversal trend of CAKE at any time.

Meanwhile, the relative strength index (RSI) of the CAKE is 65.69. This means that Pancake Swap (CAKE)  is in an overbought state. However, this means a major price reversal of CAKE may occur in the upcoming days. So, traders need to trade carefull

PancakeSwap (CAKE) Price Prediction 2022 — ADX, and RVI

The above chart represents the ADX of Pancake Swap (CAKE) . Currently, the ADX of CAKE lies in the range of 27.118 and thus, it indicates a strong  trend. 

The above chart also represents the Relative Volatility Index (RVI) of Pancake Swap (CAKE) . RVI measures the constant deviation of price changes over a period of time. The RVI of CAKE lies above 50, indicating high volatility. In fact, the RSI of Pancake Swap (CAKE)  is at 65.69 thus confirming a potential sell signal.

Comparison of CAKE with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and PancakeSwap (CAKE).

From the above chart, we can interpret ETH, BTC, and CAKE are moving in the opposite direction with respect to that of BTC and ETH. This indicates that when the price of BTC and ETH increase, the price of CAKE decreases. When the price of BTC and ETH decrease, the price of CAKE increases.

PancakeSwap (CAKE) Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses,  PancakeSwap (CAKE) might probably attain $10 by 2023.

PancakeSwap (CAKE) Price Prediction 2024

With several upgrades in the network, PancakeSwap (CAKE) might enter a bullish trajectory. If the coin grabs the attention of major investors, CAKE might rally to hit $13 by 2024. 

PancakeSwap (CAKE) Price Prediction 2025

If PancakeSwap (CAKE) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, CAKE will rally to hit $16 

PancakeSwap (CAKE) Price Prediction 2026

If PancakeSwap (CAKE) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, CAKE will rally to hit $19

PancakeSwap (CAKE) Price Prediction 2027

If PancakeSwap (CAKE) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, CAKE will rally to hit $22. 

PancakeSwap (CAKE) Price Prediction 2028

If PancakeSwap (CAKE) holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, CAKE will hit $25.

PancakeSwap (CAKE) Price Prediction 2029

If investors flock in and continue to place their bets on PancakeSwap (CAKE), it would witness major spikes. CAKE might hit $28 by 2029.

PancakeSwap (CAKE) Price Prediction 2030

With greater advancements in the PancakeSwap ecosystem, the crypto community might continue to invest in PancakeSwap (CAKE) for the next 8 years and drive significant price rallies for the token. Hence, PancakeSwap (CAKE) might hit $31 by 2030.

Conclusion

With continuous improvements in the Pancake Swap Network, we can say that 2022 is a good year for CAKE. For this reason, the bullish price prediction of Pancake Swap (CAKE)  in 2022 is $5.805. On the other hand,  the bearish price prediction of Pancake Swap (CAKE)  price prediction for 2022 is $2.501.

Furthermore, with the advancements and upgrades to the Pancake Swapecosystem, the performance of CAKE would help to reach above its current all-time high (ATH) of $43.96 very soon. But, it might also reach $7 if the investors believe that CAKE is a good investment in 2022.

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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not interpret as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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