PancakeSwap has officially launched PancakeSwap Infinity on the Base chain, marking a significant milestone for the decentralized exchange (DEX). This new launch brings advanced DeFi features and optimized gas solutions to one of the fastest-growing Ethereum Layer 2 networks. As the CAKE token approaches critical resistance, investors are wondering: will the price follow suit and reach new highs?
The introduction of PancakeSwap Infinity to the Base chain coincides with a surge in network activity, which has recently witnessed record highs in total value locked (TVL) and DEX volume. This rollout continues PancakeSwap’s goal of providing scalable and cost-effective DeFi solutions across multiple chains, as evidenced by its recent launch on the BNB Chain and the integration of one-click cross-chain swaps via the Across Protocol.
From a technical perspective, CAKE’s price action demonstrates a bullish ascending triangle pattern. Currently, CAKE is testing the resistance level between $2.80 and $3.00, having formed a series of higher lows since early January. A breakout above the $3.00 resistance could trigger a potential rally toward the $4.00 target, derived from the triangle’s measured move height.
At the time of writing, CAKE’s price is hovering around $2.65, still holding above key support levels represented by the 20-day EMA and the ascending trendline. Volume during recent trading sessions has increased, indicating a growing interest from the market. However, investors should be cautious; a decline below immediate support levels at $2.30 or the psychological barrier of $2.00 could signal a potential shift in momentum and expose CAKE to further downside risks.
In summary, PancakeSwap’s Infinity launch on the Base chain is a pivotal development in the DeFi landscape that aligns with increasing user engagement and market interest. As CAKE tests key resistance levels, all eyes will be on whether it can break through and set new records in the upcoming trading sessions.
