PancakeSwap (CAKE) price has been moving in a way that’s starting to catch the Crypto community’s attention again.
The CAKE price is sitting around $2.34 right now, and analyst Crypto Patel thinks this might be one of those moments where the chart gives a clean setup before a bigger move. Nothing explosive yet, but the structure looks like it’s preparing for something.
However, Patel believes CAKE still wants to dip a little lower before any real push can happen. He’s watching the area around $2.233, which he expects the market to sweep to grab liquidity.
After that, he thinks the CAKE price could bounce from the Fair Value Gap sitting right below it and flip the trend back upward. He also points out that the chart already showed bullish displacement earlier, which basically means buyers stepped in with enough strength to shift momentum.
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What the PancakeSwap Price Chart Is Showing
When you look at the 4H chart, the idea makes sense. The CAKE price already bounced nicely from the deeper liquidity zone near $2.055 and worked its way back above short-term sell-side levels. There’s still a gap below price, so a small dip wouldn’t be surprising at all.
Above the current range, the chart has several liquidity pockets that could attract price once momentum kicks in again, and the top of that zone sits all the way up near $2.79. If CAKE reacts well at the $2.23 region, there’s a clear path toward those higher levels.
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CAKE Price Short-Term Outlook
The short-term outlook really depends on what happens during that retest. If CAKE pulls back toward the $2.233 area and finds support, that would be the confirmation traders want.
From there, reclaiming levels around $2.42 and $2.55 becomes much more realistic, and the move toward the $2.79 target starts to look achievable.
But if the PancakeSwap price breaks down and can’t hold that lower zone, the setup loses strength and the chart may drift back toward $2.05.
For now, the market structure still leans bullish. CAKE just needs that clean reaction to activate the next leg higher, and Patel’s setup outlines exactly what that path could look like.
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