** PancakeSwap (CAKE) Surges Past $2.90 as Record Volume Drives Bullish Momentum
The post ** PancakeSwap (CAKE) Surges Past $2.90 as Record Volume Drives Bullish Momentum appeared on BitcoinEthereumNews.com. Rebeca Moen Sep 21, 2025 09:17 ** CAKE price hits $2.92 (+3.99% in 24h) following record $58.7B August trading volume. Technical indicators signal strong bullish momentum with RSI at 63.34. ** Quick Take • CAKE currently trading at $2.92 (+3.99% in 24h) • PancakeSwap’s RSI at 63.34 indicates building bullish momentum • Record $58.7 billion August trading volume and token supply reduction proposal driving rally What’s Driving PancakeSwap Price Today? The CAKE price rally accelerated significantly on September 20, when PancakeSwap broke above the critical $2.75 resistance level, reaching $2.79 amid an 8% surge. This breakthrough came as traders responded enthusiastically to PancakeSwap’s record-breaking $58.7 billion trading volume achieved in August 2025, marking the highest monthly volume in the platform’s history. Adding fuel to the bullish sentiment, a community proposal to reduce CAKE’s total token supply to 450 million tokens has gained traction among holders. This potential supply reduction mechanism could create additional upward pressure on CAKE price by improving the token’s scarcity dynamics. Despite the current bullish momentum, earlier this week painted a different picture. On September 15, CAKE faced selling pressure and tested key support at $2.46, declining 3.08% even as news of the record trading volume emerged. The initial negative reaction demonstrated how technical factors can temporarily override fundamental catalysts in cryptocurrency markets. The week’s price action showcases the volatile nature of CAKE/USDT trading, with the token experiencing both significant declines and impressive recoveries within a short timeframe. CAKE Technical Analysis: Strong Bullish Signals Emerge PancakeSwap technical analysis reveals multiple indicators aligning for continued upward momentum. CAKE’s RSI currently sits at 63.34, positioned in the neutral-to-bullish zone with room for further advancement before reaching overbought conditions. This RSI level suggests sustained buying interest without immediate reversal pressure. The MACD…
The post ** PancakeSwap (CAKE) Surges Past $2.90 as Record Volume Drives Bullish Momentum appeared on BitcoinEthereumNews.com.
Rebeca Moen Sep 21, 2025 09:17 ** CAKE price hits $2.92 (+3.99% in 24h) following record $58.7B August trading volume. Technical indicators signal strong bullish momentum with RSI at 63.34. ** Quick Take • CAKE currently trading at $2.92 (+3.99% in 24h) • PancakeSwap’s RSI at 63.34 indicates building bullish momentum • Record $58.7 billion August trading volume and token supply reduction proposal driving rally What’s Driving PancakeSwap Price Today? The CAKE price rally accelerated significantly on September 20, when PancakeSwap broke above the critical $2.75 resistance level, reaching $2.79 amid an 8% surge. This breakthrough came as traders responded enthusiastically to PancakeSwap’s record-breaking $58.7 billion trading volume achieved in August 2025, marking the highest monthly volume in the platform’s history. Adding fuel to the bullish sentiment, a community proposal to reduce CAKE’s total token supply to 450 million tokens has gained traction among holders. This potential supply reduction mechanism could create additional upward pressure on CAKE price by improving the token’s scarcity dynamics. Despite the current bullish momentum, earlier this week painted a different picture. On September 15, CAKE faced selling pressure and tested key support at $2.46, declining 3.08% even as news of the record trading volume emerged. The initial negative reaction demonstrated how technical factors can temporarily override fundamental catalysts in cryptocurrency markets. The week’s price action showcases the volatile nature of CAKE/USDT trading, with the token experiencing both significant declines and impressive recoveries within a short timeframe. CAKE Technical Analysis: Strong Bullish Signals Emerge PancakeSwap technical analysis reveals multiple indicators aligning for continued upward momentum. CAKE’s RSI currently sits at 63.34, positioned in the neutral-to-bullish zone with room for further advancement before reaching overbought conditions. This RSI level suggests sustained buying interest without immediate reversal pressure. The MACD…
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