Date: Wed, Sept 10, 2025 | 06:20 AM GMT
The cryptocurrency market is showing strength after Ethereum (ETH) held steady at $4,350 following a pullback from its recent high of $4,953. Riding this resilience, several altcoins are starting to flash bullish signals — and PancakeSwap (CAKE) is one of them.
CAKE is back in the green today, and more importantly, its chart is highlighting a bullish reversal structure that could set the stage for a breakout in the sessions ahead.
Falling Wedge in Play
On the daily chart, CAKE is shaping a Falling Wedge pattern — a setup widely seen as bullish, often marking the end of a downtrend and the potential start of upward momentum.
Recently, CAKE was rejected from the wedge’s resistance trendline, pulling it lower toward its support zone around $2.33. But bulls quickly defended this level, sparking a rebound. The token is now trading around $2.48, just under the wedge resistance, suggesting that pressure is building for a breakout attempt.
This wedge structure is further supported by CAKE’s proximity to its 50-day moving average (currently at $2.65), which remains a key pivot level to watch.
What’s Next for CAKE?
If CAKE can decisively break above the wedge resistance and reclaim its 50-day MA, it would provide a strong bullish confirmation. From there, upside momentum could accelerate, with the next technical target projected at $3.68, based on the wedge’s measured move projection.
On the other hand, failure to confirm the breakout could see CAKE slip back toward its wedge support.
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