PancakeSwap (CAKE) recently tested a resistance level at 2.95 USD after a lengthy range from 1.37 USD to 2.95 USD. Post reaching this resistance, CAKE declined by 5.6% in just under 12 hours, indicating potential market volatility.
The On-Balance Volume (OBV) has shown upward momentum since early April, suggesting strong buying pressure. However, liquidity heatmaps indicate bearish price targets around 2.61 USD and 2.28 USD, with market sentiment heavily influenced by Bitcoin’s price movements.
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