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.
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:
Price trading above yearly open:
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.
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.