The positive trend in Bitcoin prices has brought smiles to most counterfeit coin investors. But what is the current situation? CAKE, EGLD, and IMXCoin investors achieved the highest gains this week
The positive trend in Bitcoin prices has brought smiles to most counterfeit coin investors. But what is the current situation? CAKE, EGLD, and IMXCoin investors achieved the highest gains this week. As the capital inflows into counterfeit coins increase, it is easy to trigger a rebound due to low trading volume and weak orders. Will these gatherings continue?
Cake coin review
Entering November, cryptocurrency investors are full of hope. As we transitioned from the Uptober rebound to November, we saw the King of Cryptocurrencies testing $36000. Despite a slight pullback, the fact that BTC has returned $35000 has increased the risk appetite for counterfeit currency. Pancake Swap (CAKE) is one of them and achieved a good start in November. The price increases by 77% per week.
The counterfeit currency reached $2.15, breaking through key resistance levels of $1.65 and $1.93. However, technical analysts believe that maintaining such a rapid rise would be difficult without strong support from new developments. In fact, we clearly see this in Mina coins and many other counterfeit coins.
The second option is for Bitcoin to continue to rise strongly to support the rise of these counterfeit currencies. The current data indicates that in the event of a possible pullback, the price of CAKECoin may fall to $2 and $1.84.
EGLD Coin Review
In the past six months, the price of MultiversX has been on a downward trend. After multiple failed attempts to regain the overall trend line, EGLD coin's latest attempt was finally successful. A 42% price increase indicates a new wave of increase.
The rebound targets are $64.22 and $70. It is important to maintain the BTC price at $35000 during this process.
IMX Coin Chart Review
Since the end of October, the prices of immutable currencies have experienced a significant rebound. The rebound started at $0.503 and the price almost doubled. Although it has dropped to $0.9 at the time of writing, the possibility of breaking the $1 threshold has not been eliminated. The local peak is $0.96.
This rebound was facilitated by buyers decisively breaking the $0.75 neckline. If we can maintain a psychological support level of $1, we can also break through the levels of $1.248 and $1.58.
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