PancakeSwap (CAKE) shows a bullish structural shift after a market structure change, with higher lows forming inside a demand zone and accumulation indicating buyers gaining control. Momentum is improving as indicators signal CAKE price recovery, suggesting potential continuation upward if resistance is broken. According to CoinMarketCap, CAKE is trading at $1.57 with the weekly gain of 5.37%.
Source: CoinMarketCap
Also Read: PancakeSwap (CAKE) Chart Signals Indecision with Key Resistance at $1.60
CAKE Price Structure Signals Rally Toward $1.80
Furthermore, the crypto analyst Crypto Patel revealed that CAKE is showing a bullish structural shift after a confirmed market structure shift (MSS), with price forming higher lows and stabilizing inside a demand zone.
Recent buy-side liquidity sweeps suggest weak positions have been cleared, while accumulation is building, indicating potential strength as buyers gradually regain control of the market.
The CAKE price is narrowing into a defined order flow demand region, an environment where the squeeze occurs before breaking out.
There is accumulated liquidity above the existing price levels, acting as a magnet for a potential extension to the upside. The first key upside targets are located at $1.66 and $1.80, corresponding to previous resistance regions.
Source: Crypto Patel’s X Post
The positive bias remains valid as long as the CAKE price remains above $1.43; otherwise, the setup becomes invalidated, indicating that negative momentum is likely.
It is advisable to wait for a retrace towards the demand area, where one can trade above the rising trend line towards areas of higher liquidity.
Technical Outlook Points to a Recovery Attempt
According to TradingView, CAKE is set for a revival following its dramatic plunge in February. At this point, the CAKE price is currently standing at $1.575 and is well above the Bollinger Bands midline.
This positioning implies that the CAKE price trend might be switching from being bearish to becoming bullish. Watch out for any potential breakthrough beyond $1.60 in order to validate more bullish signals.
Source: TradingView
In addition to that, the MACD indicator shows a positive outlook, with the blue line moving above the orange line. The ascending bars of the histogram show increasing momentum as the CAKE price moves against the upper band.
It is imperative to maintain support around $1.51 for this scenario. Collectively, the outlook is for an eventual transition into increased market volatility.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: PancakeSwap Expands with 60+ Tokenized Stocks: Can CAKE Hit New Highs?
