PancakeSwap (CAKEUSD) Price Might Head to the $3.00 Resistance Level

PancakeSwap (CAKEUSD) Price Forecast: May 29

The pancakeSwap upswing is impressive today. Despite the market crash, the coin price is rallying upside and might head to the overhead resistance as buying pressure mounts at the $2.94 current supply level close to the overhead zone, trying to stabilize at the upper part of the range. Therefore, a strong breakout and closure above $2.94 will refute any bearish thesis and the price might hit the high at the $3.00 level and beyond, resulting in possible future gains for coin buyers.

Key Levels:
Resistance Levels: $2.92, $2.93, $2.94
Support Levels: $1.45, $1.44, $1.43

CAKE (USD) Long-term Trend: Bullish (Daily Chart)

CAKEUSD is experiencing a fresh relief rally with the bulls regaining control as buying pressure mounts, revealing a surge above the moving averages, indicating a bullish momentum in the long-term outlook.
The coin has been having a series of higher highs and higher lows, making it possible for the price to remain firm in an upward trend in its recent high.

At the time of writing today, the PancakeSwap price shows an uptick at the $2.94 resistance level above the EMA-50 as the daily session resumes, signaling the potential for further gains.

Thus, with sustained buying, the CAKEUSD price might head towards the overhead area, encouraging buyers to invest more in the asset.

Next, the PancakeSwap price is also pointing upwards on the daily stochastic, suggesting that the coin price may likely continue in an upward direction and head towards the $3.00 supply trend line in the days ahead in its higher time frame.

CAKE (USD) Medium-term Trend: Bullish (4H Chart)

PancakeSwap bulls regain control as buying pressure mounts, following the recent high turnover from the coin investors in its medium-term outlook.
The bulls are trying not to fall this time around. Further, the coin prices are traded above the moving average lines, confirming a bullish trend.

The sustained bullish pressure at the $2.42 supply level in the past few hours has made it easier for the crypto market to remain firm in an uptrend in its recent price level.

The CAKEUSD price might head towards the upper channel as the bulls made an impressive rally to a $2.84 high mark above the EMA-50 as the 4-hourly chart opens today, attracting an unusually high number of new entrants into the market.

Therefore, if the bulls increase their tension in the market, the price tendency will rise above the key levels, targeting the overhead resistance level.

Additionally, the PancakeSwap pair pointing up on the daily stochastic indicates that the buying pressure may continue and suggests a possible recovery of the $3.00 upper resistance level in the medium term.

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