PancakeSwap (CAKEUSD) Price Surges Higher to Hit the $5.000 Upper Resistance Value
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PancakeSwap (CAKEUSD) Price Forecast: February 23
PancakeSwap price surges higher to hit the $5.000 upper high value as the crypto now trades in an ascending channel. If the coin’s price sustains above the $4.834 supply level, the potential rally could surge above $4.981 higher to hit a $5.000 upper resistance value.
Key Levels:
Resistance Levels: $4.000, $4.500, $5.000
Support Levels: $3.300, $3.200, $3.100
CAKE (USD) Long-term Trend: Bullish (Daily Chart)
As shown in the chart, the price of PancakeSwap is in an uptrend in the long-term perspective. In the previous action, the price has been making both higher highs and higher lows. 
The coin price on the daily chart today is currently facing resistance and trading at the $4.273 supply level above the moving averages. Further, the rising prices reclaimed more confirmation for a bullish recovery.
Meanwhile, the CAKEUSD pair is in an uptrend on the daily stochastic. This suggests a bullish continuation to the upside, this will enable the bulls to continue the ongoing rally and the $5.000 resistance trend line or beyond might be reached soon in its long-term outlook.
CAKE (USD) Medium-term Trend: Bullish (4H Chart)
The market value of CAKEUSD in the medium-term time frame (4H) at the $4.257 high value is seen above the moving averages. This means that the market is in a bullish trend zone. 
The pair have been having interference from the buy traders in the previous action and this has really made the crypto trade in green above the supply trend lines in its recent high.
Despite the moves from the sell traders the price of PancakeSwap still remains in an uptrend at the $4.257 supply value above the two EMAs. Thus, staying above the moving average will actually enable the coin to further increase to the upside.
Hence, the crypto is expected to surge higher as indicated by the daily signal which is pointing upwards. Thus, the next recovery target by the bulls might possibly be the $5.000 upper resistance value in the coming days in its medium-term outlook as the coin surges higher.
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