Market Overview for PancakeSwap/Tether (CAKEUSDT) – September 16, 2025

• Price of PancakeSwap/Tether (CAKEUSDT) edged up over 24 hours, with a range of $2.43 to $2.47.
• Key resistance emerged near $2.465, while support held at $2.44–$2.45.
• Momentum remained mixed, with RSI and MACD showing neutral to bullish bias.
• Volatility expanded after 08:00 ET, as price tested upper Bollinger Band levels.

CAKEUSDT opened at $2.44 on September 15 at 12:00 ET and reached a high of $2.47 before closing at $2.471 on September 16 at 12:00 ET. The 24-hour volume totaled approximately $631,649.95 with a notional turnover of $1,561,293.49.

Structure & Formations

Price moved within a defined range of $2.43 to $2.47, forming several small bullish and bearish engulfing patterns. A key bullish engulfing pattern appeared at $2.443–$2.45, signaling potential support. A bearish pattern formed near $2.465, indicating resistance. A doji formed near $2.456, hinting at indecision at this level.

Moving Averages

On the 15-minute chart, the 20-period SMA moved higher, staying below the 50-period SMA, suggesting a mildly bullish bias. On the daily timeframe, the 50-period SMA remains below the 100- and 200-period SMAs, indicating a longer-term bearish structure.

MACD & RSI

MACD turned positive after 07:00 ET, confirming a short-term bullish bias. RSI reached 56 by 10:00 ET, moving into neutral to mildly overbought territory. This suggests a potential pullback could be near. Price may test $2.44 as a key support and $2.465 as a critical resistance in the next 24 hours.

Bollinger Bands

Volatility increased in the morning session with the upper band reaching $2.472. Price tested the upper band twice, with a minor retest expected at $2.468–$2.472. The lower band hovered around $2.44–$2.445, where price found support in the early hours.

Volume & Turnover

Volume spiked in the late-night to early-morning session, particularly between 00:00 and 05:00 ET, coinciding with a bullish breakout. Notional turnover peaked at $72,705.28 at 08:15 ET. A divergence appears between price and volume in the morning, which could signal a potential reversal or consolidation.

Fibonacci Retracements

On the 15-minute chart, a retracement from $2.44 to $2.47 identified key levels at $2.456 (38.2%) and $2.468 (61.8%). These levels align with recent resistance and could dictate near-term price action. On the daily timeframe, a 61.8% retracement of the prior downtrend is at $2.47, which has acted as a cap.

Backtest Hypothesis

A potential backtesting strategy involves entering long on a bullish engulfing pattern at or near $2.44–$2.45 with a stop-loss placed below $2.435 and a target aligned with the 61.8% Fibonacci retracement at $2.468. The strategy may perform best in low-to-moderate volatility conditions. Given recent price behavior, this setup appears viable if buyers can confirm control above $2.456.