PancakeSwap (CAKE) Price Jumps 2.8% on Major News Tease
The post PancakeSwap (CAKE) Price Jumps 2.8% on Major News Tease appeared on BitcoinEthereumNews.com. CAKE gains 2.8% as PancakeSwap teases major update, boosting short-term outlook Price holds above $2.60 with bullish indicators pointing to breakout toward $2.75 Analysts forecast over 115% upside by December, citing strong liquidity and demand PancakeSwap’s native token, CAKE, is gaining attention with a steady climb in price, currently trading at $2.64 after posting a 2.8% gain in the last 24 hours. This momentum is being fueled by a teaser from the PancakeSwap team, who hinted on their official X page that a major announcement is coming soon. Related: PancakeSwap Tops DEX Market With $158.4 Billion in Monthly Trading Volume CAKE Price Analysis: Key Levels to Watch CAKE token started the session near $2.56 before breaking higher, showing strong buying activity, especially in the second half of the trading period. Currently, $2.55 acted as a key support level for CAKE’s price, with $2.56 marked as an intraday pivot. If CAKE can maintain its position above the $2.60 mark, the next immediate resistance lies at its current price of $2.64. A decisive breakout beyond this level could clear a path for the price to push toward $2.70 or even $2.75. However, if the token fails to hold support at $2.56, a pullback toward the $2.50 level could follow. What Are the Market Indicators Saying on CAKE’s Price? The token’s market cap has risen to $910.59 million, a 2.8% increase, while 24-hour trading volume is up to $98.39 million. This increase in activity supports the current bullish price action. Adding to this, PancakeSwap’s total value locked (TVL) remains strong at $2 billion, signaling continued user confidence in the platform’s liquidity. Technical indicators also appear to strengthen the positive sentiment. The MACD line is currently above the signal line, suggesting a mild bullish bias. Moreover, the histogram is expanding, which may indicate an…
The post PancakeSwap (CAKE) Price Jumps 2.8% on Major News Tease appeared on BitcoinEthereumNews.com.
CAKE gains 2.8% as PancakeSwap teases major update, boosting short-term outlook Price holds above $2.60 with bullish indicators pointing to breakout toward $2.75 Analysts forecast over 115% upside by December, citing strong liquidity and demand PancakeSwap’s native token, CAKE, is gaining attention with a steady climb in price, currently trading at $2.64 after posting a 2.8% gain in the last 24 hours. This momentum is being fueled by a teaser from the PancakeSwap team, who hinted on their official X page that a major announcement is coming soon. Related: PancakeSwap Tops DEX Market With $158.4 Billion in Monthly Trading Volume CAKE Price Analysis: Key Levels to Watch CAKE token started the session near $2.56 before breaking higher, showing strong buying activity, especially in the second half of the trading period. Currently, $2.55 acted as a key support level for CAKE’s price, with $2.56 marked as an intraday pivot. If CAKE can maintain its position above the $2.60 mark, the next immediate resistance lies at its current price of $2.64. A decisive breakout beyond this level could clear a path for the price to push toward $2.70 or even $2.75. However, if the token fails to hold support at $2.56, a pullback toward the $2.50 level could follow. What Are the Market Indicators Saying on CAKE’s Price? The token’s market cap has risen to $910.59 million, a 2.8% increase, while 24-hour trading volume is up to $98.39 million. This increase in activity supports the current bullish price action. Adding to this, PancakeSwap’s total value locked (TVL) remains strong at $2 billion, signaling continued user confidence in the platform’s liquidity. Technical indicators also appear to strengthen the positive sentiment. The MACD line is currently above the signal line, suggesting a mild bullish bias. Moreover, the histogram is expanding, which may indicate an…
What's Your Reaction?
