- 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 extension of the current trend. The RSI stands at 57.28, well within the neutral range, implying that the market is not overbought.
Analysts Predict a 115% Upside for CAKE
Looking ahead, analysts at Coincodex are optimistic about CAKE’s potential moving into the end of 2025. Their predictions suggest the token could trade in a range between $5.50 and $5.83 by December.
Related: PancakeSwap (CAKE) Price Prediction 2025-2030: Will CAKE Price Hit $10 Soon?
This forecast represents a potential upside of more than 115% from its current price. If this projection holds true, investors getting in at current levels could see returns exceeding 120%.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
