PancakeSwap’s CAKE token is showing signs of a potential bullish reversal as buyers defend a key support zone between $1 and $1.25. Crypto analyst Crypto Patel indicated that CAKE has gained roughly 35% from this accumulation area, with possible breakout targets at $3.45, $9.77, $25.44, and $50. Meanwhile, decentralized computing platform Acurast has launched an ACU-USDC liquidity pool on PancakeSwap’s Base network, expanding DeFi access for its token. CAKE is currently trading at $1.63 with a market capitalization of $524.8 million.
According to a post by analyst Crypto Patel, CAKE has gained roughly 35% from its $1–$1.25 accumulation zone, strengthening its bullish setup. The token’s price remains compressed between descending higher-timeframe resistance and multi-year ascending support, creating a tightening structure.
A higher-timeframe close below $1.12 would invalidate the bullish thesis. A potential move by buyers above the lower resistance level could set the stage for a more substantial upward move, with expected target prices at $3.45, $9.77, $25.44, and even $50.
Data from PancakeSwap highlighted that Acurast has introduced its ACU-USDC liquidity pool on the platform, built on the Base blockchain. This provides users with an additional way to access and trade ACU on-chain while increasing liquidity.
Acurast is developing a decentralized computing platform utilizing over 286,000 actual smartphones for computation. The project aims to tie real-world computational power to blockchain-based markets.
At the time of writing, CAKE is trading at $1.63 with a 24-hour trading volume of $31.41 million. Following a 2.66% gain over the last 24 hours, the CAKE price structure points to a potential reversal.
