CAKE Pulls Back After Breakout, Traders Eye Retest Zone

PancakeSwap’s native token, CAKE, recently broke out of a multi-month triangle consolidation. This breakout has led to a sharp rally before a pullback. The current price is hovering around $3.82 after experiencing a 12.3% drop in the past 24 hours. The market digest following this strong move is currently seen with traders eyeing key buy points between $3.7 and $3.8 and at $2.9 – $3.0 on the weekly chart.