PancakeSwap Price Prediction: Is $CAKE Overbought at a 55% Increase, or Just Beginning?

Since the beginning of November, many major altcoins have been experiencing uncertain price behavior as the top cryptocurrencies have moved sideways due to overhead supply. However, in contrast to this indecisiveness, the Cake price has exhibited impressive growth from $1.21 to $1.90, surging 58% in the last four days. This bullish uptick is likely attributed to the announcement of the Position Manager functionality on the PancakeSwap decentralized crypto exchange. The question is whether this fundamental development is sufficient to sustain a rally beyond $2.00.