Is the uptrend of PancakeSwap (CAKE) sustainable or just a temporary spike?

PancakeSwap (CAKE) continues to trade between 1.37 USD and 2.94 USD since January 2025. On September 20, a 13.34% increase occurred, but subsequent trading showed signs of decline.

To maintain the uptrend, the resistance level between 2.91 USD and 2.95 USD must be flipped to support. However, technical analysis indicates possible selling pressure that could push the price back to the range.

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