Pancecake Swap token got rejected in area $5, a resistance area formed during the crash of May - June, when the price plummeted to its multi-year low at ~$2.5 price per token.
Over the course of the past 4 months, Cake has been able to grow +100%, pushed by a positive momentum generated from the additional commitment from several investors in the platform and overall solid and steady investor appetite.
In September, Cake broke a long term bearish trend-line in area $4.4 and was attempting to touch the short-term bearish trend-line from April highs before getting rejected from the resistance in $5 area.
Depending on market conditions, would be likely of a minor correction from here to area $4.2 before trying to break out past area $5.
Over the course of the past 4 months, Cake has been able to grow +100%, pushed by a positive momentum generated from the additional commitment from several investors in the platform and overall solid and steady investor appetite.
In September, Cake broke a long term bearish trend-line in area $4.4 and was attempting to touch the short-term bearish trend-line from April highs before getting rejected from the resistance in $5 area.
Depending on market conditions, would be likely of a minor correction from here to area $4.2 before trying to break out past area $5.