- Berachain is trading at $0.91 after rallying over 73%.
- BERA’s daily trading volume has exploded by 404%.
As of 12th February, both red and green charts have taken position within the crypto market. The broader sentiment remains hanging in extreme fear, and the digital assets are cautiously moving. Meanwhile, Bitcoin (BTC) and Ethereum (ETH) stay in the bearish zone. On the narrow bullish line, Berachain (BERA) has exploded 73.47% in value over the past 24 hours.
BERA has convincingly tested and broken through its crucial resistance levels between $0.5092 and $1.40. In the early hours, it traded on the downside, at $0.5082, and with the sudden bullish encounter in the Berachain market, it triggered the price to reach a high of $1.50. Will the recent jump lose momentum, or does it have enough room to extend higher?
At the time of writing, Berachain is trading within the $0.9114 zone, with its market cap at $190.08 million. In addition, the daily trading volume has skyrocketed by over 404%, reaching the $1 billion mark. As per Coinglass data, the market has experienced a liquidation of $13.51 million worth of BERA during this interval.
The active bulls of the Berachain could push the price toward the resistance at the $0.9135 range. Upon a continuous upward pressure, the golden cross might take place, sending the asset’s price up above $0.9156. Assuming the bears made an entry, the BERA price might fall and find the initial support at around $0.9093. The death cross could emerge as the downside correction strengthens. The price would retrace below $0.9072.
Berachain Charts Point to Growing Bullish Control
The Moving Average Convergence Divergence (MACD) line has crossed over the signal line, which indicates bullish momentum. As both lines are positioned above the zero line, the broader trend of Berachain is positive, in the bullish territory, and it is strongly facing upward.
BERA’s Chaikin Money Flow (CMF) indicator is found at 0.09, suggesting mild selling pressure in the market. The capital is flowing out of the asset, not deeply negative, and the bearish pressure is moderate rather than extreme. If it drops further, it confirms a sturdy downtrend.
Moreover, the 4-hour trading window shows that the daily Relative Strength Index (RSI) of Berachain is at 85.43, implying its strongly overbought territory. With intense buying momentum, a heightened risk of a pullback or short-term correction is there. The Bull Bear Power (BBP) value resting at 0.536 hints at the dominance of the bulls. The buyers are pushing the BERA price above the recent average. If this level holds or increases, it likely supports the continued bullish momentum in the short term.
Top Updated Crypto News
Hoskinson Confirms Midnight Mainnet Launch in March
Source: https://thenewscrypto.com/73-price-jump-and-404-volume-boom-can-berachain-bera-power-higher/
