|
Getting your Trinity Audio player ready...
|
- CAKE surged 33% in 24 hours, breaking key $2.95 resistance.
- BNB’s record-high activity boosts PancakeSwap liquidity and token momentum.
- Technical indicators signal potential gains toward $4.56 with $2.44 support.
Stay ahead with real-time updates and insights—Join our Telegram channel!
PancakeSwap’s native token, CAKE, surged 33% in just 24 hours to reach its highest price of 2025. The breakout follows the token’s escape from a falling wedge pattern on the 4-hour chart—a classic reversal signal marking the end of a downtrend. By clearing the $2.95 resistance zone, CAKE has caught the attention of traders, with the Chaikin Money Flow (CMF) jumping to 0.38, signaling strong capital inflows.
BNB’s Rally Boosts CAKE Momentum
While closely linked to Binance Coin (BNB), CAKE’s recent surge is not merely a shadow of BNB’s record-breaking $1,112 all-time high. Increased activity on the BNB Chain has funneled liquidity to PancakeSwap, reinforcing CAKE’s bullish move. Analysts suggest that if this trend persists, CAKE could easily test $3.50 in the near term.
Trading Volume Drives the Upswing
On-chain metrics show PancakeSwap processed $476.36 billion in Q3 trading volume, highlighting renewed user engagement. As the largest decentralized exchange (DEX) on BNB Chain, PancakeSwap remains the go-to hub for swaps, yield farming, and new token launches. The rising trading volume is a clear driver behind CAKE’s breakout, underlining the token’s growing appeal in DeFi.
Technical Indicators Point to Further Gains
The daily chart shows CAKE moving within an ascending channel, reflecting consistent buyer support at higher levels. The MACD has formed a bullish crossover, and the RSI is at 69.8—just below the overbought threshold—indicating strong upward momentum while leaving room for additional gains. Key resistance levels to watch are $3.84 and $4.56, with support at $2.44 in case of a pullback.
CAKE’s recent rally represents a major turnaround for one of DeFi’s longest-standing tokens. Backed by rising BNB activity and strong on-chain liquidity, the token is well-positioned for further upside while maintaining critical support levels.
Stay ahead with real-time updates and insights—Join our Telegram channel!
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: PancakeSwap Launches AAPL, AMZN, TSLA Perpetuals as Tokenized Stock Market Surges
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
