PancakeSwap: Bullish rally rejected again at range-high, what next?

PancakeSwap (CAKE) registered gains of 12.2% over the past 48 hours. However, key resistance level continues to stand in its way.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.MVRV ratio hinted at potential profit for holders.. This spurred the DEX token to a range high of $1.62.However, the confluence of the bearish order block and resistance level limited the bullish advance. This led to a 4.5% dip, with CAKE trading at $1.57, as of press time.

With the confluence of a bearish order block and resistance level standing in the way of bulls, on-chart indicators offered a glimmer of hope in the short term.

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