Top Analyst Predicts Bullish Breakout for PancakeSwap (CAKE) Price – Here’s How It Could Play Out
PancakeSwap price might be ready for a big move. Well-known trader Crypto Patel shared a fresh chart that he calls a “high-probability long setup,” and it’s got a lot of traders watching closely.
CAKE dipped below a key support area, sweeping the short-term swing low (SSL) before bouncing back. Patel points out that this quick recovery often signals a shift in order flow from bearish to bullish, which can be the first sign of a new rally.
CAKE Price Key Levels: Entry and Target
Patel’s plan is simple but detailed. He’s looking for a retracement entry around $2.68. That’s where he expects price to revisit a fair value gap (FVG), a technical pattern where price moves so quickly it leaves an imbalance behind.
These gaps often act as magnets and give traders a clean level to buy. From there, Patel’s target is clear: $3.145, which lines up with last week’s high and is likely packed with stop orders and liquidity. In other words, it’s the next major area where price could get pulled.
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Another reason Patel is confident? Buyers are stepping up fast. After the quick dip, CAKE price didn’t stay down for long. Strong buying pressure pushed the price back up almost immediately, showing that bulls are defending these levels. For Patel, this is a sign that the market has flipped and that buyers are now in control.
How the Move Could Play Out
Here’s how he sees it happening. First, CAKE price could pull back toward $2.68, filling that fair value gap and shaking out any weak hands. If that bounce holds, price could then climb toward $3.145 and possibly higher.
That kind of move would not only wipe out recent losses but also confirm that CAKE is ready to start a fresh leg of its uptrend.
Finally, CAKE price has been stuck in a choppy range for a while, but this setup suggests a breakout may be near. Crypto Patel’s chart lays out a clear path: buy the retracement, aim for the $3.145 liquidity zone, and watch how buyers react.
If the pattern plays out, PancakeSwap could reward patient traders with a strong rally, but as always in crypto, staying alert and managing risk is key.
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