- Oh, what a spectacle! A staggering 440% surge in CAKE whale activity this week, whispering sweet nothings of a potential market bottom.
- CAKE might just take flight, soaring by 40% to reach the lofty heights of $4.25, if it can muster the courage to breach and close a daily candle above $3.
In the midst of this chaotic market, behold! CAKE, the beloved token of PancakeSwap, has caught the eye of crypto whales, teetering on the brink of a monumental upswing. Who knew pancakes could be so thrilling? 🥞
CAKE whale activity spikes by 440%
According to the wise sages at Santiment, whale activity in CAKE has skyrocketed by 439.70% in the past week. Could this be the sign of a glorious bottom for the asset? A golden opportunity for the brave-hearted! 🦸♂️
This remarkable surge in whale activity is like a tidal wave of buying pressure, ready to propel us into the stratosphere of upside momentum. Buckle up! 🚀
CoinMarketCap chimes in, revealing that this whale frenzy has already catapulted CAKE up by 38% in the past week, nudging it to a pivotal level. Can you feel the excitement? 🎢
PancakeSwap technical analysis and price prediction
With this exhilarating momentum, CAKE has reached a crucial resistance level, notorious for its history of selling pressure and price declines. But wait! This time, the winds of sentiment seem to be shifting in favor of CAKE, thanks to our whale friends.
Expert analysts are donning their rose-tinted glasses, declaring CAKE to be bullish as it approaches the all-important resistance level of $3. Will it break free? 🦅
If the whales keep the party going and the price breaks through this resistance, we might just see CAKE soar by 40%, reaching the dazzling $4.25 level in the days to come. Fingers crossed! 🤞
As of this very moment, CAKE is trading above the 200 Exponential Moving Average (EMA) on the daily timeframe, signaling an uptrend. Hooray for trends! 🎉
The altcoin is currently hovering around $2.62, with a modest price surge of 0.65% in the last 24 hours. Not too shabby, right?
However, during this same period, trading volume took a nosedive, dropping by 55%. It seems traders are a bit shy today, perhaps due to the wild volatility in the crypto market. 🥴
Traders’ over-leveraged levels
Despite the optimistic vibes and price action, our dear intraday traders are feeling a bit bearish, placing their bets on the downside. Oh, the irony! 😅
According to Coinglass, traders are over-leveraged at $2.445 on the lower side, with a whopping $2.75 million worth of long positions. Talk about confidence!
Meanwhile, at $2.85, bears have set up camp, holding $3.55 million worth of short positions. It seems they’re convinced the price won’t surpass this mark. 🐻
This suggests that the bears are in control, believing the asset’s price will remain shackled below the $2.85 threshold. Will they be proven right? Only time will tell! ⏳
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2025-03-24 03:34