Bitcoin (BTC), which fell due to the chaos in the industry, caused a huge decline, especially in PancakeSwap (CAKE).
PancakeSwap, one of the popular names of DeFi platforms, has worried its users and investors with its decline in the last two days. CAKE, the platform’s native token, which managed to reach $ 2,815 by showing an effective rise until November 20, started to decline and dropped to $ 2.22. Additionally, CAKE, which dropped 9.62 percent in the last 24 hours, was at the top of the “Top Losers” list.
Hard selling came after the critical resistance test!
CAKE, which shot to $2,815 as BTC marched to $38,000, directly retreated from this resistance stage. The popular coin, which experienced massive selling pressure, took its breath away at $2.23. This value, which was just below the support level, turned the course upward. However, CAKE, which reached $ 2,391, continues to search for direction.
CAKE, which currently finds buyers at $ 2,391, may make a move towards 2,455 – 2,646 – 2.82 and $ 3, respectively, with the shine of DeFi or the rise of BTC. DeFi’s falling into silence or BTC’s downward movement will naturally shake the parity. In such a scenario, a withdrawal to 2,072 – 1,912 and 1,698 dollars can be followed, respectively.
46411
