Elite Analyst Predicts CAKE Price Pump Is Not Over Yet as PancakeSwap On-Chain Metrics Continue to Shine

The CAKE price is again among the top crypto gainers today with another 12% pump. PancakeSwap's native token is now trading above $2.65 and is trying to break that $2.70-2.72 resistance

Elite Analyst Predicts CAKE Price Pump Not Over Yet as PancakeSwap On-Chain Metrics Continue to ShineThe CAKE price is again among top crypto gainers today with another 12% pump. PancakeSwap’s native token is now trading above $2.65 and is trying to break that $2.70-2.72 resistance where price got rejected earlier this week.One of the crypto veterans with a huge following of over 440k on X, ‘CryptoJack’, posted a viral CAKE chart yesterday and predicted the rally is not over yet as he set the next target to $4.48. This target represents nearly a 70% increase from current price levels, showing significant upside potential if his analysis proves correct.CryptoJack also noted that CAKE has broken a long-term downtrend and is displaying bullish momentum. He suggested that if this breakout holds, the price could reach as high as $4.48, and invited his followers to share their own price predictions.Join CryptoJack's Telegram for more future calls and join our Telegram for more daily analysis.

CAKE Chart: Analysis Points to Strong BreakoutThe chart shared by CryptoJack shows a long-term descending trendline that has now been clearly broken to the upside. This type of breakout often signals a bullish reversal, especially after a prolonged downtrend period for CAKE. The size and shape of the recent green candles suggest strong bullish momentum behind the breakout. The recent large green candle that closed above the trendline indicates follow-through buying pressure is supporting the move.The current breakout zone around $2.50-$2.60 appears to have transformed from a previous resistance level into a new support area. With the CAKE price currently trading at $2.662, there’s considerable room for growth before hitting the projected target of $4.48, which seems to be derived from a previous price rejection zone. If this breakout continues and isn’t a fakeout, we might see a short-term retest of the trendline before further upward movement. Momentum traders and breakout traders might be eyeing entry points around current levels, targeting the $4.48 area which represents approximately 68% upside from the breakout zone.

If this breakout continues and isn't a fakeout, we might see a short-term retread of the trendline before further upward movement. Momentum traders and breakout traders might be eyeing entry points around current levels, targeting the $4.48 area which represents approximately 68% upside from the breakout zone.

If this breakout continues and isn't a fakeout, we might see a short-term retread of the trendline before further upward movement. Momentum traders and breakout traders might be eyeing entry points around current levels, targeting the $4.48 area which represents approximately 68% upside from the breakout zone.

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