PancakeSwap (CAKEUSD) Price Remains Bullish

PancakeSwap (CAKEUSD) Price Forecast: March 20

The market price of CAKEUSD remains bullish and might continue in the same upward trajectory, signaling strong market optimism and potential for significant gains. Based on the outlook, should the daily candlestick close above the $4.494 supply mark, the correction phase will extend to meet the resistance at the $4.500 upper trend line, triggering a flurry of interest among investors

Key Levels:
Resistance Levels: $2.800, $2.850, $2.900
Support Levels: $1.136, $1.135, $1.134

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

CAKEUSD’s price remains bullish, indicating strong optimism from the buy investors in its long-term perspective. The coin is trading above the EMA-50. However, the market is presently facing overhead resistance at the recent high.
The coin price has been having a series of higher highs and higher lows, making it easier for the price to remain stronger in an upward trend in its recent price level.

Earlier today, the PancakeSwap price remained bullish at the $2.804 high level above the moving averages as the daily chart opens.

However, with intense buying pressure, the CAKEUSD price could lead to retesting of the previous high of the $4.494 mark soon, obtaining a higher footing to rise higher.

Adding to this, there is a tendency for the coin to rise further, if the support level holds, this will enable buyers to take the crypto price up to a high of $4.500 soon in its long-term perspective.

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

PancakeSwap remains in a bullish trend in its medium-term outlook. The Bulls are trying not to fall this time around. Further, the coin prices are above the moving average lines, confirming a bullish trend.
The market price of CAKEUSD remains bullish as it increases from $2.639 to the $2.705 high level above the moving average, suggesting an uptrend. Thus, closing the 4-hourly session above the $2.804 supply value will put the trade more on the buy side.

Hence, the pair pointing up on the daily stochastic suggests that buying pressure may continue, targeting the $4.500 supply level in the coming days in the medium-term time frame.

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