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BAKE Technical Analysis: BAKE Bulls Targeting $0.50

Analytics

cryptoknowmics.com 02 June 2022 04:36, UTC
  
Reading time: ~2 m

BakeryToken crypto is up 130 percent from 2022 lows. In a bullish breakout formation, BAKE coin prices may race towards $0.44 and March 2022 lows.

Past Performance of BakeryToken

BakeryToken is one of the top performers in the top 10, adding 11 percent versus the USDT. As per the BAKE technical analysis in the daily chart, buyers have the upper hand. Prices are trending above the middle BB for the first time in over seven weeks.

BAKE Technical Analysis

BakeryToken BAKE Daily Chart for June 1

BAKE coin prices are within a bullish breakout formation. From the candlestick arrangement in the daily chart, BakeryToken crypto prices are above the middle BB, a former resistance level now support. The break above the flexible reaction line increasing volumes saw BAKE prices float towards May 11 highs. Traders may look for buying opportunities at spot rates as long as prices are above $0.26. The immediate buy target is $0.44 or May 11 highs. Further gains may see prices rally to $0.50 and later $0.80.

What to Expect from BAKE?

BakeryToken coin prices are bottoming up, adding 130 percent from 2022 lows. At spot rates, bulls may find opportunities to double down, expecting a retest of critical resistance levels.


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