- PancakeSwap climbs over 9% to trade at $3.89.
- CAKE’s trading volume jumps by more than 135%.
After a brief 1.49% spike in the crypto market, the new trading day began with a recovery attempt. Most of the digital assets have been brought into the green zone, with some still in the red zone. The assets, like Bitcoin, Ethereum, and BNB, have emerged as the trending coins with modest gains. Among the altcoins, PancakeSwap (CAKE) sees a recovery of over 9.14% in the last 24 hours.
In the early hours, CAKE traded at its bottom range of $3.56. With the bullish correction in the price action, the asset has climbed to a high of $4.04. To confirm the uptrend, it has to test and break the crucial resistance levels between $3.60 and $4.00. The CMC data reveals that PancakeSwap trades at around $3.89.
The asset’s market cap is staying at $1.33 billion, with the daily trading volume having exploded by over 135%, currently reaching the $716.42 million mark. In addition, the market has experienced a liquidation of $789.28K worth of PancakeSwap during this interval, as per the Coinglass data .
PancakeSwap: Is a Trend Reversal Finally Here?
The technical indicator analysis of CAKE exhibits that the MACD is found above the signal line, which implies bullish momentum. The asset’s price could continue to rise, as it is a buy signal or confirmation of an upward trend . Besides, the CMF indicator at -0.06 hints at a slight selling pressure in the market. The money is flowing out of the asset, showing that sellers have a mild upper hand, though the bearish momentum is not very strong.
CAKE chart (Source: TradingView )
The 4-hour price chart of PancakeSwap gives a bullish trading pattern, potentially a continuation of the green candles. The buyers have strongly defended the $3.43 support zone, which has led to today’s rally. The asset has to convincingly break above the $3.80 range and eventually $4 to continue the upside trajectory.
CAKE’s daily Relative Strength Index (RSI) is positioned at 64.54, suggesting moderate bullish momentum. The asset still has room to rise before hitting the overbought zone. Moreover, the Bull Bear Power (BBP) reading of 0.216 indicates slight bullish sentiment in the market. It signals early bullish activity or a shift toward positive momentum.
CAKE chart (Source: TradingView )
The broader price action has given a sign of bullish dominance recently. For a strong positive trend to happen, the CAKE bulls should gain enough momentum to push it forward. For a closer look at CAKE’s potential ahead, dive into our PancakeSwap (CAKE) Price Prediction for 2025, 2026–2030.
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