PancakeSwap's CAKE token is trading at approximately $2.85, reflecting a 5.8% increase over the past 24 hours. This rise follows a breakout from a cup and handle pattern, with the token reclaiming the $2.68 support level. On-chain data reveals a $604,000 net inflow into CAKE on September 20, signaling renewed investor interest. Analysts indicate that if CAKE sustains momentum above the $2.86 breakout level, it could target a price range of $3.00 to $3.12. Technical indicators, such as the 20-EMA and 50-EMA, support this bullish outlook, while the RSI remains below overbought levels. However, continued buying pressure is essential to confirm the breakout, with key support levels at $2.68 and $2.56 if momentum wanes.