Table of Contents
- PancakeSwap (CAKE)
- Just (JST)
PancakeSwap and Just prices are under pressure. Gains above $27 may see CAKE/USDT glide higher towards $43. Meanwhile, JST/USDT is open for $0.20 if bulls overcome $0.10.
The BSC-chain-based swapping dApp is a fork of Uniswap and runs using CAKE.
Past Performance of CAKE
CAKE prices are steadying after May 19 losses.
On the last day, the PancakeSwap token is up roughly eight percent versus the BTC, USD, and ETH.
Meanwhile, trading volumes are within range at $550 million.
Day-Ahead and What to Expect
The CAKE price is changing hands at $19.45 as of writing on May 21.
CAKE/USDT technical analysis reveals that bears are in the driving seat. However, CAKE prices bounced off a critical support level on May 20.
Overly, the failure of bulls to reverse May 19 losses—even with the undervaluation of May 20—gives CAKE bears an upper hand from a technical point of view.
CAKE/USDT Technical Analysis
CAKE bears are in charge despite gains of May 20.From the daily chart, CAKE/USDT is trading in a bear breakout pattern and below the 20-day moving average.CAKE/USDT bars are banding along the lower BB, pointing to bear pressure.Every low below $27 may be a loading opportunity for determined bears aiming for $8—2020 lows.Just (JST)The JST token powers the largest DEX in Tron. The token and the USDJ stablecoin are a big part of the Just ecosystem.
Past Performance of JSTLike most tokens across crypto, JST is under pressure, correcting after steady gains over the last ten or so months.As of writing on May 21, JST is up roughly nine percent against USD, BTC, and ETH. However, gains are with a contraction in participation.Trading volumes are down to $63 million, pointing to possible apprehension.Day-Ahead and What to ExpectTrading at $8.7, JST/USDT technical analysis points to stabilizing prices and a correcting market.In the daily chart, JST prices are below a one-month support line in a breakout with high trading volumes.There is a tinge of undervaluation and a possible pullback following May 20 close below the lower BB.
JST/USDT Technical Analysis
The path of the least resistance is southwards as long as JST/USDT prices are within May 19 bear bar and below the middle BB.
A close below $0.05—the 78.6 percent Fibonacci retracement level-may see a correction deeper to $0.03 in line with volumes analysis judging from price action in the daily chart.
Gains above May 19 highs and $0.10 nullifies the downtrend, signaling buy trend continuation.