Should You Invest in CAKE Token Right Now? PancakeSwap Price Analysis

PancakeSwap (CAKE) price has been stagnant for weeks, hovering between $1.70 and $2.05. Short rallies have occurred but a downward trendline starting in late 2023 continues to hold the price back. This trendline currently blocks any significant breakout above $2.05-$2.10. At present, CAKE trades around $1.96 just below its 9-day EMA at $2.01. If CAKE breaks through this resistance zone and stays there, we may see real upside potential. However, if it fails to break out, momentum will likely remain weak. For now, $1.70 acts as support. If it gives way, the next area to watch could be closer to $1.50.