Berachain has surged more than 35% over the past week, regaining momentum following a stabilization period.
Currently trading at $7.89, Berachain (BERA) is approaching a significant resistance mark of $8.34. A successful breakout at this point could lead to further gains, potentially pushing the price toward the psychological barrier of $10. The relative strength index has risen to 59, getting closer to the overbought territory yet still leaving room for upward movement.
Immediate support stands at $6.53, with a stronger base at $5.14. Bollinger Bands suggest that prices are tightening within a set range. Additionally, both the 10-day and 20-day estimated moving averages support further upward movement, reinforcing the bullish outlook.
The moving average convergence/divergence indicator remains positive at 0.282, reflecting ongoing momentum. However, the 24-hour trading volume has decreased by 33% to $187.7 million, indicating a slight cooling in buying activity.
On-chain data backs the bullish sentiment surrounding Berachain. The network’s total value locked has reached $3.14 billion, approaching its all-time high of $3.26 billion recorded on March 3, according to DefiLlama statistics.
From March 23 to March 25, decentralized exchange trading volume saw a significant rise from $36 million to $132 million. Moreover, the market cap of the network’s stablecoin has reached a new peak of $1.2 billion.
This recent price increase follows the introduction of its proof-of-liquidity system on March 24, which extends governance and emissions beyond its native BEX pools. This new model allows users to earn rewards through fresh vaults that distribute BGT emissions. Within hours, total active incentives amounted to $355,000, with the leading vault offering an impressive APR of over 200%.
With BERA still 45.8% below its all-time high of $14.83, traders are keenly observing whether it can surpass $8.34. A robust close above this threshold could drive prices higher, whereas failure to do so might lead to a retreat towards $6.53 or $5.14. The next move of the RSI will likely dictate whether the rally continues or if there will be a shift towards profit-taking.