Berachain Surges 35%: Key Levels and Future Outlook
Berachain (BERA) has seen a significant rise of over 35% in the past week. It’s currently trading at $7.89. the coin is approaching a key resistance level of $8.34. If it breaks through, it could climb towards $10.
The Relative Strength Index (RSI) is at 59,nearing overbought territory but still suggesting potential gains. Immediate support is at $6.53, with a stronger base at $5.14. The Bollinger Bands show the price is tightening within a range.
both the 10-day and 20-day moving averages support further upward movement. The Moving Average Convergence/Divergence (MACD) is positive at 0.282, indicating continued momentum. However, the 24-hour trading volume has decreased by 33% to $187.7 million.
Berachain’s bullish trend is backed by on-chain data. The network’s total value locked has risen to $3.14 billion, nearing its peak of $3.26 billion. This growth is a positive sign for the coin.
On-chain data also shows promise. The network’s total value locked is now $3.14 billion, close to its record high. Decentralized exchange trading volume jumped from $36 million to $132 million between March 23 and 25. The stablecoin market cap has hit a new high of $1.2 billion.
The recent surge comes after the launch of Berachain’s proof-of-liquidity system on March 24. this system, called POL, expands governance and emissions beyond the native BEX pools. POL lets users earn rewards via new vaults distributing BGT emissions. Within hours, active incentives reached $355,000, with the top vault offering over 200% APR. Despite the positive signs, the 24-hour trading volume has dropped 33% to $187.7 million, hinting at a slight decrease in buying pressure. The proof-of-liquidity system allows users to earn rewards through new vaults. This feature has attracted significant interest, with top vaults offering over 200% APR. This innovation could drive further adoption.
Traders are watching the $8.34 resistance level. A strong close above this point could push prices higher. If it fails, a pullback to $6.53 or $5.14 is possible. The RSI is at 59, suggesting the coin could keep climbing. Though,a strong close above $8.34 could push prices higher.
