PancakeSwap jumps 10% after holding $1.3, eyes $1.7 resistance amid strong market demand

PancakeSwap (CAKE) surged 10.2% to $1.52 after holding a key support at $1.3 and flipping the 100-day EMA, signaling strong upward momentum. Trading volume and open interest rose significantly, reflecting increased market participation and bullish trader sentiment. The Relative Strength Index (RSI) also entered bullish territory, suggesting buyers are in control and further gains are possible. To maintain this momentum, CAKE needs to close above $1.5; otherwise, it risks falling back to the $1.3 support level.