TL;DR Breakdown Pancakeswap price analysis is bearish for today.CAKE/USD spiked to $24.25 resistance today.CAKE is likely to retrace further. Pancakeswap price analysis indicates bearish momentum to follow today as the market saw a quick spike to $24.25 resistance, where further upside was rejected. Therefore, we expect CAKE/USD to reverse later today and look to move back to the $23 support. Cryptocurrency heat map. Source: Coin360 The majority of the crypto market traded in the red over the last 24 hours. The market leader, Bitcoin is down by 1.53 percent, while Ethereum by 2.04 percent. Litecoin (LTC) and Filecoin (FIL) are the best performers, with a gain of around 6.5 percent. Pancakeswap price movement in the last 24 hours: Pancakeswap rallies to $24.5 CAKE/USD traded in a range of $23.17 – $24.59, indicating milf volatility over the last 24 hours. Trading volume has decreased by 4.62 percent and totals $402 billion, while the total market cap trades around $5.28 billion, ranking the coin in 34th place overall. CAKE/USD 4-hour chart: CAKE set to retrace? On the 4-hour chart, we can see the Pancakeswap price rejecting further upside after a quick spike above the $24.25 resistance. CAKE/USD 4-hour chart. Source: TradingView Pancakeswap price has seen a strong advance over the past weeks. After setting a new swing low around $11 on the 20th of July, CAKE/USD gained more than 140 percent until resistance was found...
