Berachain (BERA) Regurgitates Previous Gains

As the broader crypto market turns red, the Berachain token has emerged as the second-biggest loser among today’s trending coins. As of the time of writing, the coin has recorded a price decline of 13.88%. At present, Berachain still faces the possibility of further downward movement. Let’s take a closer look below.

BERA Market Statistics

Current Price: $1.964

Market Capitalization: $250.03M

Circulating Supply: 128.9M

Total Supply: 511.42M

CoinMarketCap Rank: 169

Key Price Levels

Resistance: $2.000, $2.250, $2.500

Support: $1.750, $1.500, $1.250

BERA Gains Spill

While the Berachain token registered a notable gain in the previous session, downward forces have now begun clawing back those accrued profits. There are also indications suggesting that the market could descend further. The last price candle on the 24-hour chart is a bearish one, erasing nearly all the gains from the prior session.

However, the market still stands above the opening levels of the last two sessions. Meanwhile, the Stochastic Relative Strength Index (SRSI) indicator lines continue to maintain a generally upward trajectory from just below the 20 level — suggesting that bullish momentum could attempt a rebound.

Berachain Bears Hit a Gridlock

The BERA/USDT market is currently trading below the 9-day Exponential Moving Average (EMA) curve. However, the last two price candles on the chart raise an interesting signal. These candles appear highly compressed, indicating that market forces are currently in a standoff.

Additionally, the SRSI indicator lines continue descending toward the oversold region. While the overall market sentiment remains bearish, bulls may find an opportunity to push back if bearish momentum begins to weaken. Should this occur, the market could resurface above the $2.00 mark and potentially proceed toward the $2.50 price level.

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