PancakeSwap price is currently hovering around $3.19, showing weak momentum. Trading volume has surged by over 13%, and the cryptocurrency market saw a slight positive gain, with some assets in green. However, fear persists within the market, reflected in the Fear and Greed Index at 37. Bitcoin and Ethereum are trading near $111,600 and $4,000 respectively. PancakeSwap is down over 2.69% amongst altcoins. If bears intensify, it could push CAKE back towards its former support levels. During the day, PancakeSwap reached a high of $3.58 before falling to a low of $3.18. As of now, the asset trades around $3.19 with daily trading volume exceeding $743.88 million. The 7-day price chart reveals a fall of over 25.28%, dropping from near $4.30 to the $1.94 range. PancakeSwap’s Moving Average Convergence Divergence (MACD) shows weak momentum with its line below zero, but the signal line is above zero, indicating a mix of weakening momentum. The Chaikin Money Flow (CMF) indicator at -0.00 suggests a balanced market with neither strong buyer nor seller sentiment. CAKE’s daily Relative Strength Index (RSI) stands at 43.56, signaling a neutral to slightly bearish zone with mild selling pressure but possibly approaching the oversold zone. The Bull Bear Power (BBP) reading of -0.313 suggests slight bearish dominance in the market. With negative value, market is under moderate downward pressure. PancakeSwap’s price movement indicates a bearish outlook and could potentially retrace to the $3.12 level. Further losses may trigger a steeper decline towards its former lows below $3.05. Conversely, a bullish shift could propel CAKE up to retest resistance at $3.26. Continuous gains might strengthen the bulls and target a range between $3.32 and $3.40.