Pancakeswap (Cake) recently experienced significant recovery, increasing by 55% in last week. This strong increase reversed the significant losses observed at the end of February, Altcoin now negotiating at $ 2.68.
As the price has skyrocketed, traders and investors have become more and more optimistic, which caused an increase in commercial activity and increased optimism for future price movements.
Pancakeswap notes the rise in whale activity
In the past four days, whale addresses have accumulated 25 million cake tokens worth around 69 million dollars. This massive accumulation follows an increase of 50% price during last week, further supplying the positive feeling of the market.
The increase in whale activity indicates strong confidence in the future of Pancakeswap, which suggests that large investors expect new gains for crypto play.
The bullish feeling is not limited to the cash market. Whale actions have had a training effect, contributing to a broader trend on the market.
While the price continues to increase, the influence of these large traders could arouse additional interests of small investors, which contributes to maintaining the momentum.
The global macro impetus of Pancakeswap has shown a clear change in favor of the feeling of the Haussier market. A key indicator of this is the significant growth in open interest, which jumped 326% in last week.
From $ 23 million to $ 98 million, this increase stresses that traders are betting more and more on future prices increases, in particular thanks to long contracts on the term market.
The increase in open interest shows that the market is confident in the cash price and is also positioned for continuous growth in the coming weeks.
This increased activity in term contracts suggests that traders are preparing to increase upward prices, supporting the case for additional gains in the cake price.
The price of the cake approaches critical resistance
The cake has experienced a remarkable increase of 81% of prices in the last ten days, bringing its price to $ 2.67. In doing so, Altcoin managed to erase the 47% of the losses it suffered at the end of February. The rapid price recovery suggests that there is a significant momentum behind the asset.
Currently, Pancakeswap faces a level of resistance of $ 2.85, which has not been established as a support since the beginning of 2025. If the momentum persists, Cake could pierce this barrier and potentially exceed $ 3.00.
A successful violation of this level would suggest that Altcoin is ready for more in -depth growth.
However, if the cake fails to unravel the resistance of $ 2.85, it could withdraw at $ 2.30. Such a decline would erase recent gains and invalidate upward perspectives, perhaps reporting a temporary stop in the recovery trend.
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