Declining due to the chaos in the sector Bitcoin( BTC) especially PancakeSwapin ( CAKE) led to a huge decline.
One of the popular names of DeFi platforms PancakeSwap , 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. In addition, falling by 9.62 percent in the last 24 hours CAKE, “ Most A lot losers” was at the top of the 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.
