- Berachain has gained over 11%, trading at $0.99.
- BERA’s daily trading volume has declined by 12%.
Crypto markets remain weighed down after a bearish correction, with most assets in the red and momentum continuing to fade. With the Fear and Greed Index value resting at 42, the broader market sentiment hangs neutral. Among the digital assets, Berachain (BERA) has swum against the market tide, gaining 11.13% in value over the past 24 hours.
In the early hours, the asset traded on the downside at $0.8806, and with the steady bullish encounter, it mounted to a high of $1.03. To confirm the uptrend, the asset has broken the key resistance levels. Berachain currently trades at $0.9907, and its trading volume has dropped by 12.67% to $204 million. Besides, the BERA market has seen a liquidation worth $958.99K.
While analysing the 4-hour trading chart of Berachain, it shows an emerging bullish trend, and its price could climb toward the resistance above $1.10. Upon the unfolding of the golden cross, the price might hit its recent highs. If a reversal occurs, the Berachain price might drop and test the nearest $0.9821 support. An extended bearish correction likely triggers the death cross out, and the asset’s price would steeply fall and see more losses.
Berachain Sees a Shift Toward Moderate Bullish Momentum
The Moving Average Convergence Divergence line of Berachain has crossed briefly above the signal line, which indicates a short-term bullish presence. Notably, this crossover hints that the momentum is uncertain, and the trend may not sustain unless the MACD continues rising.
Moreover, the Chaikin Money Flow (CMF) indicator value is resting at 0.05 points toward a mild buying pressure in the BERA market. The capital inflows slightly take precedence over outflows, but the momentum remains weak. It suggests early accumulation, not a strong bullish move.
Berachain’s current market sentiment is moderately bullish, as the daily Relative Strength Index (RSI) is at 61.40. The momentum is positive, and it might approach the overbought territory, leaving enough room for further upside if strength continues. Furthermore, the Bull Bear Power (BBP) reading sitting at 0.140 hints at slight bullish dominance, but the strength is weak. This shows an early or fragile upside momentum, which needs a stronger push to move forward.
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Source: https://thenewscrypto.com/berachain-bera-rockets-11-will-the-buckled-market-see-a-full-blown-rally/
