Will Berachain (BERA) Extend Its Gains or Hit Resistance?

• Berachain surges to $8.08, rallying over 23%.
• BERAs daily trading volume spikes by 60%.

Following a brief bullish correction, the crypto market has seen modest gains across assets. While Bitcoin and Ethereum remain stagnant, Berachain (BERA) has jumped 23.96% in the past 24 hours, making it a standout performer.

Berachain has broken through its crucial $7.68 and $8.27 resistance levels from a low of $6.47. The emerged bulls have helped to mount the daily high of $8.39. Breaking past the upcoming resistance could signal the next leg up.

At press time, Berachain is trading at $8.08, with its market cap reaching $862 million. In the meantime, the daily trading volume of BERA rests at $600 million. Notably, the market has observed a liquidation of $2.75 million worth of Berachain during this interval.

BERA has rallied over 37% in the last seven days. The asset opened the week trading at $5.82, and it has maintained the trading pace without dropping below $5.

Will BERA Bulls Prevail？

The in-progress upside correction of the Berachain could climb toward the $8.46 range. Forecasting a continuous upward trajectory for the asset, the price might jump to $10. This breakout zone could unlock further upside.

If the uptrend falters, it could lead to the formation of a death cross. Hence, the assets price might face a series of support levels at $7.58. Further slippage would trigger a steep fall below the $5 range.

Moreover, the Moving Average Convergence Divergence (MACD) line of BERA has crossed over the signal line. This infers a bullish crossover and is considered a buy signal, reflecting a surge in bullish strength.

The Chaikin Money Flow (CMF) indicator is likely settled at 0.15, hinting that the capital is flowing into the asset with buying pressure. Concurrently, the daily trading volume of Berachain has soared by over 60%.

BERAs trading window reveals the daily relative strength index (RSI) at 84.49 suggesting that the asset is in overbought territory, with a potential risk of a pullback or correction. Besides, the Bull Bear Power (BBP) value found at 2.4636 shows strong bullish dominance.