PancakeSwap rolled out its Cake Pad launch, following earlier product updates including stock perpetuals and multi-chain integrations. The updates came as CAKE price gained momentum.
The CAKE USD pair spiked 45% WTD to reach a daily high near $4.64 on Oct. 8. Analysts, including Smokey and YodaX, pointed to converging bullish setups on multiple timeframes. The outlook reflected renewed trader confidence as CAKE approached a potential breakout zone near its long-term range ceiling.
Analysts Eye Major Breakout as Token Tests Long-Term Ceiling
CAKE’s price increased in the week beginning Oct. 6 as traders focused on a decisive move above the $4.5 threshold. The token built steady momentum across short- and long-term charts, where consecutive bullish formations hinted at sustained buying pressure.
YodaX highlighted two bull flag breakouts on the lower timeframes, noting how CAKE held gains after brief consolidations. The pattern showed active market participation and continued accumulation, reinforcing the view that bulls remained in control.
Moreover, X-based analyst Smokey described $4.5 as the key resistance separating CAKE from its first major reversal in over two years.
The PancakeSwap token’s three-day and weekly structures showed a large base forming since mid-2022, with repeated tests near the upper boundary. The setup resembled a long accumulation zone tightening under a horizontal ceiling. A clean break and weekly close above that level would confirm a shift in structure and likely attract fresh inflows.
Market data from PancakeSwap’s DEX supported the growing optimism. Monthly user activity remained near cycle highs, even as trading volume cooled. Edgar.eth added that rising spot demand and improving DeFi metrics strengthened the setup.
Still, CAKE price remained nearly 90% below its all-time high, leaving recovery potential largely dependent on follow-through above the $4.5 mark. The divergence suggested that traders stayed active but awaited a technical trigger. Historically, CAKE rallies followed similar user-volume buildups once price cleared a key range. That alignment between participation and technical structure added weight to the bullish case.
CryptoTigers noted that CAKE’s weekly candles compressed tightly against long-term resistance, showing reduced volatility ahead of a potential breakout.
The analyst viewed the pattern as a classic pre-expansion phase consistent with previous PancakeSwap rallies.
Ecosystem Expands as PancakeSwap Broadens Utility
The improving technical picture aligned with a steady flow of ecosystem updates from PancakeSwap. The most recent was the launch of Cake Pad, a native platform for token launches and community-driven fundraising.
The feature aimed to expand PancakeSwap’s utility beyond trading by integrating direct project onboarding within its ecosystem. The rollout followed weeks of internal testing and marked a shift toward more self-contained DeFi infrastructure.
In addition, earlier this month, PancakeSwap introduced stock perpetuals for assets like GOOG, META, and NVDA. The move positioned the exchange as one of the few decentralized platforms bridging crypto and traditional market exposure. It extended the protocol’s reach into synthetic trading, while maintaining BNB Chain as its operational base.
Meanwhile, PancakeSwap’s data on DeFiLlama showed its total value locked rising more than 26% in a month. The increase highlighted consistent liquidity inflows despite volatile market conditions. The platform also maintained a top ranking among BNB Chain applications by user count and transaction volume.
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