Berachain (BERA) Tries to Keep an Upward Track

The Berachain token has stood out in the crypto market. Although it has posted only modest gains, it remains one of the better-performing coins. From a technical perspective, the market appears to be maintaining an upward trajectory. Let’s take a closer look at the market below.

BERA Market Statistics

Current Price: $2.25

Market Capitalization: $270.77M

Circulating Supply: 506.06M

Total Supply: $270.77M

CoinMarketCap Rank: 167

Key Price Levels

Resistance: $3.00, $3.50, $4.00

Support: $2.00, $1.50, $1.00

Berachain Clinches Modest Gains as Bulls Try to Stay Dominant

The BERA market has retraced toward higher levels, reaching the upper limit of the Bollinger Bands (BB). As a result, price action rebounded downward in the previous session. The ongoing session, however, has shown some resilience, represented by a green candle on the chart. Notably, the candle has formed as an inverted hammer pattern.

Meanwhile, the Stochastic Relative Strength Index (SRSI) indicator lines are descending toward the 70 threshold, signaling slowing momentum. Nevertheless, the fact that price action remains above the middle band of the BB indicator suggests that the market still retains some underlying positivity.

BERA Sees a Conspicuous Dip

On the 4-hour chart, the Berachain market has experienced a notable decline in the ongoing session. The most recent candle appeared bearish and dragged trading below the middle band of the BB indicator. Despite this, the BB indicator itself maintains a slight upward slope, indicating that the broader trend is still supportive.

Additionally, the SRSI lines are holding a general upward trajectory after rising from deep in the oversold region. This suggests the possibility of renewed bullish strength. Therefore, traders may look for price action to resurface above the middle band of the BB indicator as a prerequisite before targeting the $2.60 price level.

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