CAKEUSD After a monumental break of the Triangle.

$CAKE

CAKE

2.036

+3.45%

CAKEUSDT

Perp.

2.0341

+3.31%

PancakeSwap (CAKEUSD) has been operating within a Triangle pattern since the high on December 4, 2024, and the price has been in the tightest possible compression since then.

As you can see, it has been fluctuating for the last 2 weeks within the Fibonacci range 0.382 - 0.618 and this is also reflected in the 1-day RSI sequence.

If the price breaks above the top of the Triangle (lower highs trend line), we expect a rally towards the Fibonacci extension 2.0 (5.3000). Alternatively, you can more safely aim for Resistance 1 or the Fibonacci extension of 1.618.

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