Price Analysis View Non-AMP

Will CAKE Price Predictions Of 50% Hike To $3.5 Hold True?

Published by
Sohrab Khawas

With a fresh breeze of recovery in the last few days, the CAKE price forms consecutive bullish candles. Marking a reversal to complete a bullish pattern in the bigger picture, the buyers anticipate a second breakout rally in PancakeSwap prices. 

Sustaining above the crucial psychological mark of $2, the token price triggers an entry spot for sideline buyers. Capitalizing on the improving sentiments this week, the altcoin is on its way to proving the PancakeSwap price prediction of $3.5 true.

Despite the recent fallback from the $2.74 mark, the CAKE price regains bullish consciousness close to the $2 mark. With lower price rejections at $2.15, the comeback rally has shown 6% growth in the last three days and teases a jump to $2.74.

Analyzing the previous long-term trend, the PancakeSwap price trend forms a big cup and handle pattern. Initiating the groundwork in the bear phase of Summer, the token price shows a neckline at the $2.74 mark. 

As the ongoing recovery approaches the neckline, the buyers complete the handle part and tease an upside break. Currently, the CAKE price trades at $2.32 with an intraday gain of 1.73%, reflecting the growing bullish momentum.

Technical Indicators:

RSI indicator: The RSI line makes a rounding reversal from the halfway line, reflecting a bullish revival. Moreover, the momentum indicator teases a bullish break as the underlying demand grows. 

Will The CAKE Price Reach $3.5?

If the bulls manage to absorb the overhead supply, then the CAKE price can lead to a bullish breakout of the $2.74 mark. Further, this will increase the bullish momentum, resulting in a longer uptrend, potentially beyond $3.5.

If the altcoin fails to keep the price above the critical support level of $2, the price will fall sharply. This could cause the price to drop to its lower support level of $1.60.

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Recent Posts

XRP News: New Twist Emerges In Ripple SEC Case With Unusual Filing

Ripple’s XRP is back in the spotlight after a surprising new filing in the long-running…

April 4, 2025

Bitcoin & Ethereum ETFs See Major Outflows—BlackRock Stands Firm

April 3 marked another tough day for crypto ETFs, with Ethereum ETFs losing $3.59 million…

April 4, 2025

Bitcoin ETFs Face $100M Outflows as Markets Plunge Following Trump’s Tariff Shock

On Thursday, U.S. spot Bitcoin ETFs faced $99.86 million in net outflows as the stock…

April 4, 2025

Ethereum (ETH) Price Prediction for April 2025

Ethereum (ETH/USD) price held a crucial support range between $1,755 and $1,800 as the United…

April 4, 2025

Why Crypto Is Down Today: Traders React to Tariffs, Eye Fed’s Next Move

The crypto market has hit a rough patch, slipping to $2.65 trillion after a 1.02%…

April 4, 2025

Crypto Awaits Fed Rate Cut Decision Amid Recession Fears

Crypto markets went on a rollercoaster ride this week as investors reacted to President Trump’s…

April 4, 2025