DOGE was as soon as once more greater on Monday, as merchants purchased the token, days after a video concerning the meme-coin was shared by Elon Musk. This got here as CAKE was additionally an enormous mover at present, climbing past the $10 mark, hitting a multi-month excessive within the course of.
Dogecoin (DOGE)
DOGE rose for a second consecutive session, as bulls continued to pile into the meme-coin, following a current tweet from Elon Musk.
Following a low of $0.1366 on Sunday, DOGE/USD rallied to a peak of $0.1553 in at present’s session, as costs have been practically 6% greater.
At the moment’s peak is the best stage DOGE has traded since February 14, and comes following a breakout of the $0.1510 resistance stage.
Nonetheless, this ceiling has been comparatively agency, with costs falling from earlier highs, because the transfer regularly turns right into a false breakout.
Trying on the chart, DOGE is now buying and selling at $0.1507, and the 14-day RSI indicator additionally hovers under its personal ceiling of 65.70.
Because of slowing momentum, bears out there are probably anticipating a reversal, and ready for the right time to re-enter.
Pancakeswap (CAKE)
Regardless of crypto markets being decrease throughout the board on Monday, there have been some notable exceptions, which have been in a position to rise greater.
One in every of these tokens that climbed greater was CAKE, which gained by as a lot as 7% to begin the week.
CAKE/USD surged to its highest stage since January 21 on Monday, as costs hit an intraday excessive of $10.22
The worth of CAKE has surged in the previous few weeks, because it bounced from assist of $5.50 on March 16, to now buying and selling over $10 to start the month of April.
Regardless of these positive factors, CAKE remains to be removed from its file excessive at $27, and with worth energy presently overbought, we might have to attend earlier than climbing nearer to these ranges.
The 14-day RSI is presently monitoring at 75.95, which is near its highest level since final August.
Can CAKE proceed to climb greater, regardless of being already overbought? Tell us your ideas within the feedback.
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