PancakeSwap (CAKEUSD) Price Forecast: May 31
CAKEUSD price will rise further and is also bound to gain more strength if all the current support holds and the bulls should trigger their efforts and break up the $4.717 resistance trend line, the bullish correction pattern may extend the coin price to hit the $9.000 high mark. Thus, a turnaround and clear buy signal for the coin holders.
Key Levels:
Resistance Levels: $4.000, $4.500, $5.000
Support Levels: $2.500, $2.000, $1.500
CAKE (USD) Long-term Trend: Bullish (Daily Chart)
The market value of PancakeSwap on the long-term outlook is still in an uptrend despite the inflows from the sell traders. The price bar can be seen above the EMA-9. Thus, the bulls are capable of pushing higher from this trend line.
The bulls’ pressure at the $1.695 supply level during yesterday’s session has made the coin stay above the supply trend level in its recent price level.
The price finds a reliable resistance at the $1.816 mark above the EMA-9, resulting in intraday gains. This suggests an uptrend in the context of the strength of the market and also shows that buyers are still in dominant the price actions at present.
Additionally, there is likely to be a further increase in the price of CAKEUSD as indicated by the daily signal which is pointing upwards. We can therefore expect the buy traders to push the coin price above the overhead resistance trend line which may possibly reach the $9.000 supply trend line in the coming days in its higher time frame.
CAKE (USD) Medium-term Trend: Bullish (4H Chart)
The CAKEUSD pair remains in the bullish market zone in its medium-term view. The market price staying above the resistance trend lines confirms its bullishness and the high impact of the bulls. 
The coin has been making higher highs and higher lows in the previous actions; this has made it possible for the price to maintain an uptrend in its recent high level.
Despite the interruptions from the short traders, buyers successfully pushed the market price of PancakeSwap above the moving average lines at the $1.774 supply level as the 4-hourly chart opens today.
Thus, if the bulls regroup and push higher, a steady rise above the mentioned supply value will accelerate the new correction phase to a significant key level in the supply area.
Therefore, if the bulls increase their tension in the market, the price tendency will move above the key levels and the bullish pattern may likely reach the $9.000 high mark in the coming days in its medium-term outlook.
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