PancakeSwap (CAKEUSD) Will Rise Further, Invest!

PancakeSwap (CAKEUSD) Price Forecast: November 12

The CAKEUSD price is expected to rise further and gain more strength if the current support levels hold, and the bulls intensify their efforts. The coin price may rise from its current level of $2.795, and a breakout is imminent as the crypto faces upside. Thus, if the bulls trigger their efforts and break the $3.697 peak resistance barrier, the bullish correction pattern may extend the coin price to hit the $4.572 upper high mark. Thus, a turnaround and clear buy signal for coin holders.

Key Levels:
Resistance Levels: $2.800, $2.850, $2.900
Support Levels:    $1.940, $1.939, $1.938

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

On the higher time frame, the PancakeSwap price remains in an uptrend, suggesting it will rise further, despite the reactions from short-term traders.
The price bar is above the moving average. Thus, the bulls are capable of pushing higher from this trend line.

The coin has been having a series of higher highs and higher lows, which enabled the price to remain upward in its recent high.

The market price of PancakeSwap increases significantly to a $2.795 high level above the moving averages as the daily session opens, signaling a potential buy signal or opportunity for the coin traders.

The positive momentum comes as the cryptocurrency overall market shows signs of revitalization.

Thus, closing the 24-hour session above the $3.932 neckline will put the trade more on the buying side before any bearish appearance.

Additionally, the crypto price pointing upwards on the daily stochastic implies that further upside is certain.

Hence, the next target by the bulls may be the $4.572 upper resistance level in its long -term forecast.

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

In its medium-term outlook, the CAKEUSD pair remains in the bullish market zone.
The market’s bullishness and the strong influence of the bulls are confirmed by the price remaining above the crucial mark.

The coin’s prior highs have been able to sustain an upward trend at its most recent high level.

As the 4-hourly chart opens today, buyers were able to increase the market price of PancakeSwap above the moving average at the $2.795 supply level despite short traders’ interference.

Therefore, a potential breach at the immediate resistance of $2.795 will provide additional evidence for a bullish recovery if the bulls can add more aggression to their efforts in the market.

Notably, the CAKEUSD pair is up on the daily signal. Therefore, if the bulls increase their tension in the market, the price tendency may move above the key levels and the bullish pattern might reach the $3.044 high mark in the upcoming days in its medium-term outlook.

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