Uniswap (UNI) and PancakeSwap (CAKE) Technical Analysis: What to Expect?

UniSwap Image 1

Uniswap and PancakeSwap buyers are firmly in control. UNI/USDT and CAKE/USDT may reach $40 after clearing $30 and $20, respectively.

Uniswap (UNI)

It is the world’s most valuable DeFi protocol using UNI for governance. At 10th in the market cap leader-board, the project manages over $4.8 billion of various assets.

Past Performance of UNI

Adding four percent on the last trading day, UNI bulls are marching northwards.

This week, there was a brief period of consolidation, but UNI/USDT prices are now resuming the uptrend.

Presently, $30 is an exciting area of resistance. If August 13 buyers are confirmed, it swings the door open for $40—or better in the medium term.

Day-Ahead and what to Expect

Overly, Uniswap crypto bulls have high hopes.

A solid close above $30, as aforementioned, could accelerate the next leg up towards $40.

A strength marker, as is the case, is a wide-ranging bull bar breaking above $30 at the back of high trading volumes. The only thing awaiting this is a follow-through, which may happen today.

UNI/USDT Technical Analysis

Uniswap Price Daily Chart for Aug 14

The UNI token is up double digits in the last trading week.

At the backdrop of a recovering crypto market and adamant Bitcoin bulls, traders can scoop on dips or wait for a comprehensive close above $30 before committing.

In that case, the immediate buy target would be $43.

A contraction resulting in a bearish engulfing pattern cancels the uptrend.

PancakeSwap (CAKE)

The protocol is the largest swapping platform in the burgeoning Binance Smart Chain (BSC) ecosystem. It relies on CAKE for governance.

Past Performance of CAKE

The CAKE crypto token is firmly on an uptrend, printing higher highs per PancakeSwap technical analysis in the daily chart.

At present, CAKE is up five percent versus the greenback.

Day-Ahead and what to Expect

Since CAKE/USDT prices are banding with the upper BB with diverging bands, the uptrend momentum is supported.

Accordingly, the odds of CAKE blasting above $20 in continuation of the bullish breakout pattern above July 2021 remain high.

Late swing traders can wait for CAKE token prices to close above $20 before loading on retracements, aiming at $40.

CAKE/USDT Technical Analysis

PancakeSwap Price Daily Chart for Aug 14

The path of least resistance is northwards as is evident in the technical analysis.

There is an opportunity for aggressive traders to buy the dips as it is. Meanwhile, patient CAKE buyers can wait for a close above the immediate resistance line before committing, targeting $43.

A retracement below $18 will slow down optimistic bulls.