Pancakeswap Bearish Sentiment Pulls Prices Down by 4%

Pancakeswap Bearish Sentiment Pulls Prices Down by 4%

• Bulls failed to push Cake past the strong barrier at $3.47 but bears plunged it to $3.123.
• The Bollinger bands suggest that the selling pressure is increasing in the CAKE market.
• Indicators show the bearish trend is set to continue and surpass the support level of $3.12.

Pancakeswap bulls failed to push past the strong barriers at $3.47. However, the bears effectively drove prices lower till they reached support at $3.123. At press time the prices of Pancakeswap had fallen to $3.14 (a 4.19% decrease).

Market capitalization fell by 4.18% to $503,387,474 while the 24-hour trading volume dropped by 37.19% to $24,404,202 as a result of the recession.

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