PancakeSwap price analysis: We expect CAKE/USD to break the $34 resistance

TL;DR Breakdown PancakeSwap price analysis is bullish today.CAKE/USD saw a slight retracement today.PancakeSwap is attempting to retest the $23 resistance. PancakeSwap price analysis is bullish, as a new higher low was established today above $22, and bulls are presently pushing the market higher. As a result, we anticipate the $23 resistance to break later today, allowing CAKE/USD to create a new high. Cryptocurrency heat map. Source: Coin360 Over the last 24 hours, the cryptocurrency market has been in good shape. Bitcoin is up 3.5%, while Ethereum is up 6.73%. On the other hand, Dogecoin has had a spectacular day, increasing by 11% and outperforming all other cryptocurrencies. PancakeSwap price movement in the last 24 hours CAKE/USD is up 4.4% over the last 24 hours and is presently selling for $18. PancakeSwap’s price movement today can be attributed to a couple of factors: solid technical indicators and upcoming news. Let’s start with support levels: we know that $23 is a firm price point, as it has been tested and retested multiple times. Price action began to move upwards upon the test of $23 resistance, which was verified at 4:30 UTC on August 21st. This indicates that prices will likely move higher than this level – the only question is how high. Technical indicators are also bullish for CAKE/USD, with both the Moving Average Envelope and Bollinger Bands trending upwards. Additionally, the RSI is at 61, which m...