Pancakeswap boosts its Syrup Pool with BEL-BNB

 CAKE price is currently grappling with a crucial resistance level and is likely to retrace before heading on an uptrend. Investors should note that a spike in buying pressure can trigger an upswing, postponing the pullback.

PancakeSwap announced on August 19 their plans to boost the BEL-BNB farm in the Syrup Pool. The increase will be 1x for seven days, starting August 20, with 175,000 BEL tokens allocated to the Syrup Pool.

PancakeSwap faced a tough time a few months ago when its projects became an attraction to hackers, who exploited unaudited projects with buggy code leading to losses in the millions. 

Since the market structure is bullish, investors can expect a resurgence of buying pressure around $19.03 to kick-start a new leg-up. This upswing will target the $26.13 and $29.20 resistance barriers in the short-to-mid term, roughly 36% upswing from $19.03.

On the other hand, things might turn awry if the bullish market structure begins to lose ground. For CAKE, a breakdown of the $19.03 stable support barrier will create a short-term lower low, indicating a shift in trend favoring the bears.

This is where the Pancakeswap build its place to serve its users in a better way through its native token, CAKE. You can also start your own NFT Marketplace like Pancakeswap, with Pancakeswap Clone Script.