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The Berachain token has appeared as the second most profitable coin on today’s list of trending coins. As of the time of writing, the token has recorded a price growth of 1.79%. This has helped the market to stay afloat against prevailing headwind activities.
Berachain Market Statistics
Current Price: $2.667
Market Capitalization: $339.39M
Circulating Supply: 126.07M
Total Supply: 508.59M
CoinMarketCap Rank: 160
Key Price Levels
Resistance: $3.00, $4.00, $5.00
Support: $2.50, $2.00, $1.50
Berachain Bulls Poised to Sustain Upside Move
The previous session in the Berachain daily market recorded a strong price surge. As such, this spontaneously pushed the market past the 9-day Exponential Moving Average (EMA). While this has been positive for price movement, it seems to have attracted downward forces.
As a result, price action is facing some resistance in the session, causing the latest price candle on the chart to appear compressed. Nevertheless, the lines of the Stochastic Relative Strength Index (SRSI) indicator are still rising upward into the overbought region. Technically, this suggests that the market may proceed upward subsequently.
Berachain Bulls Are Determined to Retake the Center Stage
The BERA/USDT 4-hour market has revealed that although bearish forces restricted price upside movement in the previous session, bulls are making efforts to resume control. The ongoing session is represented by a green price candle. This price candle appears conspicuous enough and, as such, has helped recover the market from the losses of the previous session.
Also, trading here remains above the 9-day EMA line. At the same time, the SRSI lines are in the overbought region. The indicator has lingered around the 100 mark for a while, and due to the earlier bearish activity, it has descended slightly. However, the current stance of the session suggests that traders can target $2.800 and $3.00 for short-term gains.
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