Berachain Climbs 14%, Is a Stronger Breakout Ahead?

• Berachain jumps to $7.89, posting a 14% rally.
• BERA’s daily trading volume soars by 168%.

After a short-lived bullish correction, the crypto market is experiencing a combination of losses and gains. While others are fighting for a recovery, Berachain (BERA) has beaten the uncertainty and emerged as one of the leading gainers with a 14.57% increase in value. 

The potent bulls have driven the price to reach a daily peak of $8.03, breaking through its crucial resistance levels from a low of $6.86. Surpassing the upcoming resistance could pave the way for further gains.

At the time of writing, Berachain trades in the $7.89 range, with the daily trading volume resting at $254 million. Notably, the market has observed a liquidation of $1.07 million worth of Berachain during this timespan. 

BERA has climbed by over 29.91% in the last seven days with the asset opening the week trading at around $6.03, and the bulls maintained the trading pace without dropping to the current trading level. 

Will BERA Bulls Hold Their Ground?

Berachain’s active upside correction could push the price climb to $8.05. Upon assuming a continuous bullish trajectory for the asset, the price might jump to $9 and clearing this zone could fuel a strong bullish action. 

A death cross may form if the bullish trend stalls, and it could lead Berachain to encounter a series of support levels between $7.78 and $6.71. Further slippage in price might trigger a steep fall below this range. 

In addition, BERA’s Moving Average Convergence Divergence (MACD) line has crossed above the signal line. This infers a bullish crossover and the price may potentially rise, demonstrating a resilient uptrend.

The Chaikin Money Flow (CMF) indicator of the asset is settled at 0.01, hinting slight accumulation and the price may consolidate or experience a slight surge. Concurrently, the daily trading volume of Berachain has increased by over 168%.

BERA’s daily relative strength index (RSI) at 70.79 suggests that the asset is nearing overbought territory, indicating strong bullish momentum. Moreover, the Bull Bear Power (BBP) reading of 0.9200 indicates that bulls are stronger than bears.

Disclaimer: The opinion expressed in the article is solely the author’s. It does not represent investment advice. TheNewsCrypto team encourages everyone to do their own research before investing.

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