- CAKE ended its long triangle consolidation, posting a sharp rally before beginning a pullback.
- Immediate buy-the-dip areas are seen at $3.7–$3.8 and $2.9–$3.0 on the weekly chart.
- Breakout volume hit 12.72M, followed by lower activity as the market digests the move.
PancakeSwap’s native token, CAKE, recently completed a breakout from its multi-month triangle consolidation, signaling a key structural shift in its weekly trend. The token surged strongly before beginning a pullback phase. CAKE is currently listed at a price of $3.82 which is equivalent to the decrease of 12.3 percent in the past 24 hours. The 24-hour range of the token is between 3.78 and 4.39 with the support level being 3.78, and the resistance level being 4.39. On the weekly chart, the breakout was preceded by a long-term compression of the market, which indicates the change in the market momentum, and the new resistance zones are to be tested.
Breakout Retest Levels and Immediate Market Reaction
Following the recent surge, CAKE’s price action indicates cooling after a strong upside move. Analysts highlight two key zones where buyers may seek re-entry. Zone 1, positioned between $3.7 and $3.8, represents the immediate breakout retest area. Price movement around this region may determine short-term stability.
Meanwhile, Zone 2, located between $2.9 and $3.0, marks a deeper retracement zone aligned with the lower structure of the ascending pattern visible on the weekly chart. Market participants are monitoring these levels closely, as a reaction from either zone could influence the token’s next directional move. The pattern structure remains intact as long as prices stay above the broader trendline support established earlier this year.
Broader Weekly Structure Points Toward Controlled Consolidation
The weekly chart shows that CAKE recently tested the upper descending resistance trendline near $4.6, briefly breaking above it before pulling back. This is an early sign of trying to shift to expansion instead of consolidation. The price has become volatile; however, it has still stood above previous resistance of around $3.7, which can now also serve as intermediate support. The volume of the breakout week was 12.72 million, indicating that more people took part in the move.
However, the subsequent contraction suggests profit-taking following the rally. If buyers maintain the price above the first support zone, short-term consolidation could stabilize momentum before further movement toward the $5.00 region.
Market Structure Remains Technically Supportive
Overall, CAKE’s technical outlook on the weekly timeframe presents a structured progression within its broader ascending formation . The ongoing retracement phase is part of a market adjustment following an extended breakout.
With the immediate focus on the $3.7–$3.8 and $2.9–$3.0 support areas, traders are watching for sustained activity near these points. The outcome will determine whether CAKE extends its current structure toward higher resistance levels or continues consolidating within its long-term range.
