Berachain Price Update

Berachain has gained over 35% in the past week, regaining strength after a consolidation phase.

As of press time, trading at $7.89, Berachain (BERA) is nearing a crucial resistance level of $8.34. A breakout from this level might pave the way for additional gains, possibly toward the $10 psychological price. The Relative Strength Index (RSI) has climbed to 59, moving closer to overbought levels but still leaving room for upside.

Technical Analysis

• Immediate support is at $6.53 with a stronger floor at $5.14.
• Bollinger Bands indicate that the price is tightening within a range.
• Both the 10-day and 20-day estimated moving averages support additional upward movement, confirming the bullish trend.
• The Moving Average Convergence/Divergence (MACD) indicator is still positive at 0.282, indicating continued momentum.
• However, the 24-hour trading volume has dipped 33% to $187.7 million, suggesting some cooling in buying pressure.

On-Chain Data

Berachain’s bullish case is also supported by on-chain data:
– Total value locked in the network has risen to $3.14 billion, approaching its record high of $3.26 billion from March 3, according to DefiLlama data.
– Between March 23 and 25, decentralized exchange trading volume surged from $36 million to $132 million.
– The stablecoin market cap has reached a record high of $1.2 billion.

Recent Developments

The latest rally follows the launch of its proof-of-liquidity system on March 24, which expanded governance and emissions beyond its native BEX pools. POL allows users to earn rewards through new vaults distributing BGT emissions. Within hours, active incentives hit $355,000, with the top vault offering an APR of over 200%.

With BERA still 45.8% below its all-time high of $14.83, traders are closely watching whether it can break past $8.34. A strong close above this level could push prices higher, but failure may trigger a pullback toward $6.53 or $5.14. The RSI’s next move will likely determine whether the rally continues or if profit-taking sets in.