BNB and CAKE Prices Set to Surge 20% This Week

BinanceCoin (BNB) and PancakeSwap (CAKE) prices are expected to surge by 20% this week, driven by the bullish momentum displayed over the weekend and the strong start to the week. Both tokens have shown resilience and are poised for a significant price increase.

The recent price action of BNB and CAKE indicates a bullish pattern, with the tokens consolidating around their gains. A breakout from the current range could initiate a fresh ascending trend, pushing prices higher. After a 'v-shaped' recovery, both tokens appear ready for another price explosion within the profitable range.

BinanceCoin (BNB) has been trading with remarkable strength since the second half of 2024, confined within a rising parallel channel. If the bulls maintain the current levels, BNB could kick off a strong upswing towards a new all-time high (ATH) of $800. Although there is a low probability of a bearish scenario, it may not prevent BNB from reaching its target.

The price chart of BNB shows a clear rising parallel channel, with the token recovering from recent lows. A fresh upswing seems imminent, as the price has risen from a fake breakdown, trapping sellers. The Relative Strength Index (RSI) has surged above the average range, suggesting a potential rise to the upper threshold, which could push prices beyond $800.

PancakeSwap (CAKE) has been trading under a strong bullish influence since rebounding from its bottoms near $1 in Q4 2023. The token's resistance remains around $4.6, while support levels are incrementally increasing. The recent influx of volume suggests that CAKE is due for a significant price movement.

The weekly chart of CAKE indicates that the token is within a bullish range. After a brief consolidation, the price is expected to rise and test the resistance level. The weekly Moving Average Convergence Divergence (MACD) is on the verge of a bullish crossover, which could push the CAKE price towards the resistance. If the bulls maintain their strength and volume increases significantly, CAKE may rise within the bullish range and target higher levels.