PancakeSwap (CAKE) Slides Below Range, Is This An Entry Point For Buyers?

PancakeSwap (CAKE) Slides Below Range, Is This An Entry Point For Buyers?
PancakeSwap (CAKE) has been trading against the broad market, especially when major market movers have rallied. The coin has lost 0.8% over the last 24 hours and still depicts no decisive price action on the chart. Despite the CPI data release, the coin has remained unaffected by that development. CAKE traders are still wary of the asset’s next price movement. The technical outlook for the coin has painted a bearish picture on the chart. Although that seems to be the case, there could be a scenario in which CAKE makes a comeback. After rangebound trading for weeks, the coin has finally broken below its lower band, indicating a chance of a price appreciation. This could prove beneficial for traders who are planning to log gains from the crypto. Risk-averse traders, however, should be careful about investing as the coin still continues to signify a further potential loss over the immediate trading sessions. The asset is still hovering around pockets of high liquidity, which could prove to be a negative point for traders. For CAKE to register fu ..

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