 is now showing signs of price recovery after a recent 20% dip. The daily chart, recent developments, and growing){kind=link}
Key Insights:
- PancakeSwap (CAKE) appears bullish and is poised for a 26% rally to reach the $2.92 level.
- PancakeSwap’s bullish thesis will only hold if CAKE maintains a price above the $2.05 level; otherwise, it may fail.
- CAKE traders are currently over-leveraged at $2.09 on the lower side and $2.36 on the upper side.
Pancake Swap (CAKE) is now showing signs of price recovery after a recent 20% dip. The daily chart, recent developments, and growing interest from traders and investors further strengthen CAKE’s bullish outlook.
Current Price Momentum
At press time, CAKE was trading near $2.22 and had registered a price surge of 2.5% over the past 25 hours. The ongoing price recovery and recent developments in PancakeSwap have garnered significant attention from traders and investors, leading to a 20% surge in recorded trading volume.
This surge in trading volume, along with the rising price, indicates strong bullish momentum, with bulls appearing to push CAKE toward a new high. The recent price surge seems to have begun after CAKE found support from an ascending trendline that has held for a prolonged period, increasing the chances of a continued price recovery.
Pancake Swap (CAKE) Price Action and Technical Analysis
According to expert technical analysis, PancakeSwap appears bullish, as it has successfully tested a key support level that has held since February 2025. Historically, whenever CAKE’s price has reached this level, it has provided strong support, and the asset has consistently rallied after bouncing from it.
Additionally, the daily chart shows that, after multiple tests of the ascending trendline, CAKE appears to be forming an ascending triangle pattern and is currently heading toward the common resistance level.
CAKE Price Prediction
Based on recent price action and historical patterns, if CAKE maintains its price above the ascending trendline or the $2.07 level, there is a strong possibility that it could soar by 26% to reach the $2.92 level, a common resistance the asset has experienced for a prolonged period.
On the other hand, if CAKE fails to hold the trendline support and closes a daily candle below the $2.05 level, it could pave the way for downside momentum and may experience a significant decline in the future.
At press time, CAKE’s Relative Strength Index (RSI) stands at 45, indicating that the asset is neither in overbought nor oversold territory. The price movement now depends on market sentiment and the outlook of traders and investors, which currently appears bullish and could propel the asset in a positive direction.
Bullish On-Chain Metrics
Meanwhile, PancakeSwap’s positive outlook has led investors to accumulate CAKE tokens, whereas traders’ interest remains bearish, with many betting on the short side, according to on-chain analytics firm CoinGlass.
Exchanges Records CAKE Outflow
Data from spot inflow/outflow reveals that exchanges have witnessed an outflow of $258.76K worth of CAKE tokens over the past 24 hours. This modest outflow of tokens from exchanges indicates potential accumulation and could create buying pressure and upside momentum, which CAKE is currently experiencing.
Traders’ Eyes on Short Positions
On-chain metrics further reveal that traders are currently over-leveraged at $2.09 on the lower side (support) and $2.36 on the upper side (resistance).
At these levels, they have built $1.1 million worth of long positions and $1.83 million worth of short positions, clearly indicating that traders betting on the short side are currently dominating.