PancakeSwap (CAKE) has recorded a modest price rebound amid improving cryptocurrency market sentiment, with CAKE currently trading near the $2.0 level. This area aligns closely with a well-defined support zone from December 2025, suggesting that buyers are attempting to establish a short-term base after the previous decline.

PancakeSwap technical analysis

CAKEUSD - 1 Day Time Frame

From a technical standpoint, the $2.0 area remains a critical support, as repeated reactions from this zone indicate ongoing demand. As long as CAKE holds above this level, downside pressure appears relatively contained, keeping the structure neutral-to-cautiously constructive.

The immediate hurdle sits at $2.1, a clear support/resistance (S/R) zone. This level has acted as resistance in recent weeks, with price failing to break above it despite several attempts in January. Notably, the same zone served as reliable support throughout November 2025, reinforcing its technical significance.

PancakeSwap price target

A confirmed break above $2.1 could open the door for a broader recovery move, with the next upside target near $2.5, where stronger selling interest previously emerged. Beyond that, $2.8 stands out as a more ambitious resistance level, one that has remained unbroken since October 2025.

On the downside, failure to hold the $2.0 support may keep CAKE locked in a narrow consolidation range or expose it to renewed selling pressure. For now, however, price action suggests stabilization rather than acceleration, with the $2.1 level likely to dictate the next directional move.