PancakeSwap Price Prediction – Will CAKE Price Hit $20 Soon?
- Bullish CAKE price prediction is $17.45.
- The CAKE price might also reach $20 soon.
- CAKE bearish market price prediction for 2022 is $5.09.
This PancakeSwap (CAKE) Price Prediction 2022 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our CAKE price analysis and prediction.
Over the past few weeks, the cryptocurrency market seems to be making a fast recovery. After the dip in the past two months, the crypto market has either remained stable or growing steadily. At the moment, it seems that the digital asset industry might finally be on the up and up again. The price of CAKE has reduced by 33.8% in the last one year.
Will CAKE experience the same price volatility? We’ll find out soon in this CAKE price prediction article. But first, let’s have a look at what CAKE is.
What is PancakeSwap (CAKE)?
As appetizing as it sounds, PancakeSwap or CAKE doesn’t have anything to do with food. It’s an automated market maker and a decentralized finance (DeFi) application. The platform is a Binance Smart Chain-based Decentralized Exchange (DEX) launched by anonymous devs — that seem to like breakfast food and rabbits. It’s often compared to Ethereum’s Uniswap and SushiSwap because of its many similarities, but it also has many additional features that allow users to earn rewards.
What is an automated market maker (AMM)? If you haven’t encountered this term yet, here’s what it means. An AMM is different from traditional centralized exchanges. You can trade digital assets on this platform. However, there is no order book where you are matched with fellow traders. In an AMM, you are trading against a liquidity pool which is simply a bunch of funds thrown together in a large digital pile. It’s an essential element of Decentralized Finance (DeFi) protocols.
The liquidity pool is combined using other users’ funds. These users deposit them in the liquidity pool and they receive Liquidity Provider (LP) tokens in return. These tokens can be used to claim their share and a part of the trading fees.
CAKE is the native token of the PancakeSwap platform. It’s the BEP-20 Pancake token (CAKE). This token is one of many tokens that are used within the PancakeSwap protocol and is made available for token swaps within the exchange.
PancakeSwap (CAKE) Current Market Status
As of the time of writing this Aave Token price analysis, CAKE trades at $6.71 with a 24-hour trading volume of $213,6043,164. The price of CAKE has increased by 2.36% in the last 24 hours. Currently, the top cryptocurrency exchanges for CAKE are Binance, Kucoin, Bithumb, Mexc, Gate.io and others. Now, let’s go to the next part of this CAKE technical analysis for 2022.
That said, is CAKE a good cryptocurrency to invest in 2022? Let’s find out in this CAKE Token price prediction 2022 article.
PancakeSwap (CAKE) Price Analysis 2022
Currently, CAKE holds 57th place on CoinMarketCap. But will the latest upgrades, development, and changes in the CAKE blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this PancakeSwap price prediction article
CAKE/USDT 1Day Chart Showing Relative Strength Index (Source: Tradingview)
The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of 1-day chart is 54.13. This shows that CAKE is showing a strong trend since it is between 50 and 70. This value might trigger a bullish run soon since it seems that more buyers are repositioning as the value is moving towards the 70 RSI value which is the overbought region.
CAKE/USDT 1Day Chart Showing Keltner Channel (Source: Tradingview)
Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for CAKE/USDT, we can deduce that the price of CAKE might experience a bullish run since it is consolidating at the middle of the channel. However, in the long-term, the price might get bullish since top cryptocurrencies like Bitcoin and Ethereum are already getting bearish from the recent bullish run.
CAKE/USDT 1Day Chart Showing 200-MA and 100-MA (Source: Tradingview)
The 200-MA is above the 100-MA in the CAKE/USDT 1day chart above. The gap between the two moving averages is not close, which means that the present long-term yield for CAKE will be high, though there will be a bearish run since the 100-MA is getting closer to the last candlestick.
PancakeSwap (CAKE) Price Prediction
The chart below shows that CAKE has performed great over the past few days. Moreover, the CAKE price shows a bullish trend. If this trend continues, CAKE might run along with the bulls, overtaking its $8.81 resistance1 level and move even higher to $17.45.
CAKE/USDT 1Day Chart Showing the Key Levels (Source: Tradingview)
Conversely, if the investors turn against the crypto, the bears might take over and push CAKE from its uptrend position. In simpler terms, the price of CAKE might decrease to almost $5.09, a bearish signal.
Meanwhile, our long-term CAKE price prediction 2022 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many previous psychological resistances.
PancakeSwap (CAKE) Price Prediction 2022
If this bullish trend continues, CAKE Token will reach $17.45 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $8.81. Then this rise will slow down, but no major falls are expected. With upcoming, partnership, and developments reaching $20 is quite optimistic in the price point of view but undoubtedly feasible for the near future.
PancakeSwap (CAKE) Price Prediction 2023
If CAKE holds the support level around 200-MA, the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $30, making it not plummet but play consistently.
PancakeSwap (CAKE) Price Prediction 2024
As per the latest upgrades, developments, CAKE price prediction, and new project forecasts of the platform, CAKE investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of CAKE in the crypto market, and it will be the best investment as the price can spike and reach around $45.
PancakeSwap (CAKE) Price Prediction 2025
In the next four years, CAKE prices could race up to $60. However, reaching this level could not be so difficult for CAKE as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that CAKE has a high possibility of reaching new ATH soon in the next four years as per the prediction.
PancakeSwap (CAKE) Price Prediction 2026
In the next five years, CAKE prices could race up to $150. However, reaching this level could not be so difficult for CAKE as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that CAKE has a high possibility of reaching new ATH soon in the next five years as per the prediction.
CAKE has a bright future ahead of it in 2022. With the ongoing developments happening within the PancakeSwap ecosystem, as well as in the overall crypto market, we may see CAKE reach new heights.
Bullish CAKE price prediction 2022 is $17.45. As said above, it may even reach its new ATH if investors have decided that CAKE is a good investment in 2022, along with mainstream cryptocurrencies.
What is PancakeSwap?
PancakeSwap is an automated market maker (AMM) — a decentralized finance (DeFi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return.
Is CAKE Token worth buying?
PancakeSwap Token’s native asset CAKE is a good investment in 2022. However, traders and investors need to take extra care when dabbling in cryptocurrencies, as these are extremely volatile.
How can I get PancakeSwap tokens?
You can get CAKE by purchasing it on exchanges.
Where can I buy or trade CAKE?
You can purchase CAKE at PancakeSwap, Binance, KuCoin, Gate.io, Bithumb, and many other exchanges.
Will the CAKE price hit above $20 in 2022?
Yes, it’s very much possible that CAKE Token might reach $20 in the near future as per the current bullish trend.
What will be the CAKE price by 2022?
CAKE price is expected to reach $17.45 by 2022
What will be the PancakeSwap price by 2023?
CAKE price is expected to reach $30 by 2023.
What will be the PancakeSwap (CAKE) price by 2024?
CAKE price is expected to reach $45 by 2024.
What will be the PancakeSwap price by 2025?
CAKE price is expected to reach $60 by 2025.
CAKE price is expected to reach $60 by 2025.
CAKE price is expected to reach $150 by 2026.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.