PancakeSwap (CAKEUSD) Suggests a Rally to the $2.572 High Mark

PancakeSwap (CAKEUSD) Price Forecast: November 10

The market price of CAKEUSD suggests a rally to the $2.572 high level and remains positive, despite the recent crash in the crypto market. The coin price has witnessed renewed buying pressure, making it one of the top meme coins. Consequently, if buyers are successful in the pattern breakout, the upside advances may test the prior supply level of $2.870, which could further hint at the upper resistance level of $3.603, suggesting an active corrective.

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

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

On the higher time frame, the PancakeSwap price hints at a rally above the moving average line following the recent market surge. This is due to the significant impact of buy investors on the coin.
The bulls’ high inflow into the crypto at the $2.527 level during yesterday’s session has enabled the coin price to uphold the bullish rally lately.

As the 4-hourly chart opens today, CAKEUSD buyers suggest a rally with intraday gains up to the $2.572 high value above the EMA-50.

Hence, a strong push above the $2.870 supply level will offer strong resistance to the crypto price.

Additionally, the daily signal moving up indicates that there are more opportunities for upside in the PancakeSwap market.

In light of this, the coin price could grow to reach a $3.603 supply value in the coming days in its long-term outlook.

CAKE (USD) Short-term Trend: Bullish (1H Chart)

In its short-term perspective, the price of CAKEUSD suggests a rally above the trend levels facing the upper channel, indicating a bullish situation for the coin.
The coin market has hinted at a recent rally above the trend levels due to the bulls’ successful breakout to the $2.484 supply value during yesterday’s session.

An improved optimistic sentiment is suggested by the market price of PancakeSwap, which points to a climb to a $2.540 high level.

Therefore, if the bulls can intensify their efforts in the market, a possible breakout from the immediate resistance of $2.596 will provide more evidence for a bullish recovery.

Meanwhile, buyers are likely to continue with the current trend as indicated by the momentum indicator pointing upwards.

As a result, the CAKEUSD buyers may drive the token price to an upper resistance level of $2.800 in its lower time frame.

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