CAKE is getting new interest after a quick price jump and new chart signals. The token is trading near $2.92 after climbing more than 16% in just a few hours, according to a post from Crypto Kartha on X(Formerly Twitter).
Crypto Analyst Moe Trading also shared that CAKE price is now above its yearly open and could be ready for a larger range move if Bitcoin stays firm around the $118,000-$119,000 area.
What you'll learn 👉
PancakeSwap Daily Chart Shows a Clear Breakout
On the daily chart, CAKE price has broken out of a descending channel that held prices from August through mid-September. The breakout pushed the token up toward $3.00 and switched the pattern from lower highs and lows to a fresh higher high.
Right now, $2.75-$2.80 is the crucial area to watch if price retraces. Other levels of support are at $2.60-$2.65, then $2.40-$2.45 and finally at $2.20.
On the long side, short-term resistance is at $3.00-$3.05, then $3.20-$3.25 and $3.50. If buying continues, the next bigger targets are $3.80-$4.00, and possibly $4.20.
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Bigger Range Is Still in Play for CAKE
Looking at the three-day Binance chart, CAKE price has been moving inside a broad $2.5 to $5.2 range for more than a year and a half after its big fall from the 2021 highs near $44-$68. The $2.5 zone has worked as a strong base many times, and price is again bouncing from that level.
We’ll see how things unfold this coming week. One altcoin I’ll be keeping an eye on is $CAKE — the last time I traded it on leverage was back in October 2023.
— MoeTrading (@CoinGiggleMoe) September 21, 2025
Previous year deviation: ✅ Done
Previous month deviation: ✅ Done
Price trading above yearly open: ✅ Done
I’m mainly… pic.twitter.com/KXlsQLoDt9
If CAKE can stay above $3 and gain momentum, the next long-term target traders are eyeing is around $5.24, with even higher levels like $8.38 and $16.22 further out.
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What to Watch Next For Cake
Moe explained that key monthly and yearly deviations are now behind CAKE and that it is holding above the yearly open. He thinks a normal range expansion is possible if Bitcoin remains steady, which could set the stage for a move toward $5.2.
For now, traders will watch whether CAKE price retests $2.75-$2.80 and holds, or if it breaks above $3.20 to confirm the next leg higher. A daily close back inside the old channel or under $2.60-$2.65 would warn of a weaker setup.
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