Key Takeaways
- The BNB token continues to rally toward new all-time highs, as CAKE looks to replicate the rally.
- Current price action and optimism of Binance Coin could boost the price of PancakeSwap towards a potential high of $10.
- The price has increased by over 20% in a single day, continuing its upward trend.
PancakeSwap has seen its price surge by over 35% in the last seven days, as the price looks set for a strong price rally with BNB to a potential key high, as traders and experts are speculating the price could replicate BNB’s current price action as the price continues to trade to new highs of $1,180.
The price of PancakeSwap has shown some promising signs of bullish price action, despite trading below $3 since the start of the 2021 bull market. The crypto asset has remained in a range and struggled to show strong volume to the upside.
With the BNB ecosystem experiencing strong bullish activity in its network, and other altcoins on its chain showing bullish signs to the upside, the price of PancakeSwap could build on current market hype to trade to the upside.
Market Rallies as CAKE Gains Boost
The price of BNB has been performing well, which has influenced the price of other Binance tokens in the ecosystem. Additionally, the decrease in gas fees has led to an increase in blockchain activities in the space.
With the price of BNB hitting a new all-time high of $1,180, the price has the potential to trade higher. This has led to speculation that PancakeSwap may gain in price to the upside. Predictions for the price suggest that it could rally towards a high of $8 to $10.
Price Analysis Prediction
Source – CAKE Weekly Price Chart from TradingView
Following recent price action from PancakeSwap, the price broke out above $3.6 with renewed bullish momentum, trading towards weekly highs of $4.4 and $5. A bullish price breakout above $5, accompanied by strong volume, could see the price trade towards $10 in the coming weeks.
The short-term price target for PancakeSwap remains $4.4 to $5, as the price could face strong weekly resistance around this zone of $5. If the price trades higher, we could see a potential price target of $ 10.80.
Traders and investors will be closely watching PancakeSwap to see how the price develops in the coming weeks and months.
FAQs
Does CAKE crypto have a future?
The crypto token has the potential to trade towards key highs following recent market interest in the Binance chain.
How much will PancakeSwap coin cost in 2025?
The price of the crypto asset has the potential to trade above $5 if the price breaks above this key weekly resistance.
How much is the PancakeSwap token worth?
Currently, the price of the token trades around $ 3.60 as it heads towards key resistance.
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