• As of November, PancakeSwap has risen and the price has doubled

• The PancakeSwap token was affected by the FTX Sage Risk Emergency

• Cryptocurrency is still on the decline, with low risk

It seems that the pancake fruit exchange (CAKE/USD) will have to finish 2022 at a relatively low price. There are not many CAKEsCryptocurrencyIt looks tough to deal with a bear market. However, it cannot last beyond November. The negative impact of FTX despair has added damage to cryptocurrency. Why did the total number of tokens in the blockchain technology exchange or DEX soar after the FTX event?

The decrease of CAKE may be due to its contact with Binance. Cryptocurrency is based on Binance intelligent chain. Therefore, the crisis of confidence faced by intermediate exchanges including Binance may have infiltrated PancakeSwap. But it does not necessarily mean that this is the case, because the bear market is still destroying the encryption market.

With CAKE hitting an important friction resistance of US $5.0 at the beginning of November, investors may have withdrawn their positions. Naturally, this was also inspired by the despair of FTX, which caused the collapse of most data encryption tokens. Since the end of June, the value of CAKE has doubled, and investors are not easy to withstand the risk of profit. According to this, the bull market of CAKE has ended, at least at present.

With the price retesting of friction resistance, the market prospect of CAKE's professional technology is bullish

CAKE/USD data chart (by TradeView)

The technical future outlook shows that CAKE has retested the friction resistance of USD 3.5. Since reaching this level, the price has been stagnant, which indicates that the price may be adjusted downward.

The MACD indicator value is very negative for cryptocurrencies. With the CAKE price falling to $3.1, the RSI index value improved slightly when it hit the oversold condition. The reading value is still less than the center point, indicating that the blank sheet is under control.

How much is the next price of CAKE?

Unless the price of CAKE is about 3.5 yuan, the price of CAKE will continue to rise. The next potential price levels for cryptocurrencies are $2.8 and $2.6. Investors should remain hesitant until the bear market disappearsSHOP CAKEUpward reversal is confirmed.

Where to buy CAKE

Binance

Binance is one of the world's largest cryptocurrency exchanges. It is more suitable for more experienced investors, and provides many cryptocurrencies with more than 600 options. Binance is also famous for its low transaction fees and various trading options from which users can profit, such as:; Equivalence trading, margin trading and spot market.

Buy CAKE with Binance today

Swapzone

Swapzone is a data encryption exchange aggregator, which serves as the gateway ip between the services of the cryptocurrency community street exchange. Swapzone is committed to providing consumers with convenient and fast pages, secure customer flows and clear data information, and searching for the best rate in all cryptocurrency sales markets.

Buy CAKE with Swapzone today