After gaining almost 20% yesterday, PancakeSwap (CAKE) price continues its rally today, having broken through the previous swing high and the psychological resistance at $3 with strong momentum and trading volume. Price reached an intraday high of $3.58, marking its highest level this year.
With this surge, CAKE price has also cleared the horizontal resistance band between $2.80–$2.90, a barrier that has capped the price action since late December — albeit a couple of fakeouts in recent months.
Technically, the breakout move appears to have been set off by a retest of the ascending trendline support near $2.50, which consistently acted as a foundation for higher lows throughout 2025.
Looking ahead, a retest of the breakout level around the previous swing high at $3.10 would be the best‑case scenario for bulls after such an extended move. With the current price at $3.38, it’s about 24% overextended above the 20‑day SMA at $2.72. A more measured and likely scenario, however, is a deeper pullback into the $2.80–$2.90 zone, which would still be considered a healthy retest for bullish continuation.
What’s driving CAKE price?
Binance Coin (BNB) hit a new ATH today, surpassing $1,100. CAKE’s liquidity and trading activity on BNB Chain make it highly correlated with BNB’s price action, meaning BNB’s rally likely boosted sentiment for CAKE.
Additionally, PancakeSwap recently launched “Fee‑Earning Limit Orders” on BNB Chain. These orders, when executed, pay a 0.1 % fee to the order placer. This not only incentivizes deeper liquidity, but also creates an additional revenue stream that flows back into the PancakeSwap ecosystem. For long‑term CAKE holders, this is meaningful because PancakeSwap channels a portion of its protocol revenue into CAKE buybacks and burns, directly reducing supply while reinforcing the token’s value capture.