PancakeSwap Price Breakout to $2.30 on Double-Bottom Formation

The PancakeSwap (CAKE) price is showing signs of a bullish reversal after forming a double-bottom pattern and defending key support at $1.20-$1.30.

According to Crypto With Gopal, the formation suggests CAKE may be building a base with bulls attempting to push the price toward the key $1.80 neckline.

A breakout above this level would confirm the double bottom pattern and cement the bullish view on the CAKE price.

The next key level to watch out for is $2.30, while failure to break out above $1.80 would send the price back to the support zone of $1.20-$1.30.