PancakeSwap, WAVES, IOTA Price Analysis: 20 April

ambcrypto.com:

Continuing its Ascending channel rally, CAKE displayed a buying advantage while looking at the 4-hour 20 EMA for immediate support. Similarly, WAVES and IOTA correlated with the broader revival in the last two days and saw a lift-off from their long-term floors. But the overall directional trend for these alts still stood quite weak.  

PancakeSwap (CAKE)

Source: TradingView, CAKE/USDT

Since dropping below $16 in November of last year, The bulls took a back seat in the vigorous plunge phase while CAKE lost more than half its value. After poking its multi-month low on 16 March, the bulls have finally steered the trend in their favor.

The buyers negated the most recent bearish retracement by triggering an up-channel (white) rally that helped CAKE flip the trendline resistance to support (white, dashed). With the 20 EMA (red) crossing over the 50 EMA (cyan), the $8.3-mark should offer strong support. 

At press time, the digital currency traded below 80.5% of its ATH at $8.6. The RSI seemingly slowed down at the 64-mark whilst displaying a heightened edge for the bulls. Furthermore, the CMF reaffirmed the RSI’s bullish stance by swaying above the zero-mark.  

WAVES

Source: TradingView, WAVES/USD

WAVES steeply fell since the beginning of this month as it pierced through multiple resistance points. The altcoin lost nearly 67.02% of its value from 31 march to date.

Over the past few days, the $18.6 floor triggered a buying revival that helped propel a rally toward its Point of Control (red). But the Supertrend still struggled to alter its position from the red zone. The immediate resistance stood near the 50 EMA (cyan).

At press time, WAVES was trading at $21.3. The RSI jumped from the oversold region to the 54-mark over the last two