PancakeSwap (CAKEUSD) Price Forecast: April 27
The PancakeSwap price is likely to reverse at the current support level of $2.622 if the mentioned level holds. The coin may possibly face the positive side if the buy traders should exert more force and push the price above the $4.981 supply level.
Key Levels:
Resistance Levels: $4.000, $4.500, $5.000
Support Levels: $3.300, $3.200, $3.100
CAKE (USD) Long-term Trend: Bearish (Daily Chart)
CAKEUSD‘s price is in a bearish market at the moment. Further, the coin is trading below the moving averages. 
The price drop to the $2.804 low value during yesterday’s session has made the coin price trade below the supply levels in its recent low. This will soon be invalidated as the market is oversold already.
The sellers’ inflow dropped the coin price down to $2.622 below the two EMAs. However, price reversal at the mentioned current support level is more likely; however, traders can buy the crypto at a low price with this current trend.
Next, price retracement at the mentioned support is likely as the market is oversold already. This will compel the buy traders to resume an upside move soon. The price of Pancake Swap might likely rebound at the current support level to retest the previous high of $4.981 level which could further extend to the $9.000 upper supply trend line in the days ahead in its long-term outlook.
CAKE (USD) Medium-term Trend: Bearish (4H Chart)
The currency pair is showing a bearish sentiment. The price actions can be seen below the moving averages, indicating a bearish trend.
The drop in the price of PancakeSwap to the $2.881 low value during yesterday’s session has made the coin price remains in a downtrend in its recent low.
The price responded to the shift in the market structure and is currently below the moving averages at the $2.622 support value as the 4-hourly chart opens today. Hence, many investors can join the market at a lower price in order to push the market value upward.
Meanwhile, there is a possibility of price retracement at the mentioned support, as the selling pressure has ended as indicated by the daily signal which is now pointing up in the oversold region.
This means that the price might possibly reverse at the current support level and its upside moves may likely extend the price of CAKEUSD to the $9.000 supply level in the nearby days in its medium-term time frame.
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