PancakeSwap’s $CAKE Breaks Out from Head and Shoulders Pattern, Slides Before Rebound

PancakeSwap’s native token, $CAKE, has completed a textbook Head and Shoulders reversal pattern, signaling a short-term bearish trend. After breaking below the neckline to reach $2.63 before a brief rebound, the price is currently struggling near key support levels. 8. 7.8% in the past 24 hours saw $CAKE surge to $2.96, but momentum remains weak due to its continued stay below key moving averages.