Berachain (Bera) is down almost 15% in the last 24 hours, with its market capitalization now at $ 778 million, although its price remains almost 20% in the last seven days. This lively withdrawal occurs after a solid rally between February 18 and February 20, when Bera has reached levels above $ 8.5.
The Bera (RSI) relative resistance index has dropped over -racket levels, signaling a loss of bullish impetus, while its directional movement index (DMI) shows an increasing down pressure. While Bera sails in this correction phase, it faces a key support at $ 6.1, with potential resistance levels at $ 8.5, $ 9.1 and $ 10 if the optimistic momentum returns.
Bera RSI decreases regularly after touching the over -racket levels
The Berachain relative force index (RSI) is currently 50.6, decreased 86.7 only two days ago when its price jumped over $ 8.5. RSI is a Momentum oscillator which measures the speed and variation in price movements, ranging from 0 to 100.
It is commonly used to identify the conditions of overcouting or occurrence, with values above 70 indicating the surachat levels and less than 30 suggesting a territory of occurrence.
The sharp drop in the Bera RSI reflects a significant loss of the bullish impulse after reaching over-racket levels over 86, where a correction was likely.
With RSI now at 50.6, Bera is in a neutral area, suggesting that the purchase and sale of pressures are relatively balanced.
This could indicate a consolidation period because the market digests recent gains. If RSI continues to decrease below 50, this could point out a growing bearish momentum. This could lead to a new drop in prices for Bera.
Conversely, if RSI stabilizes and begins to increase, this could suggest a renewal of purchase interest and a potential recovery to Berachain Price.
The Bera DMI graph shows that buyers lose control
The graphic of the Berachain Directional Movement Index (DMI) shows its average directional index (ADX) currently at 50.5, after having culminated at 60.2 yesterday, against only 13.3 five days ago. ADX is an indicator used to measure the resistance of a trend, whatever its direction, ranging from 0 to 100.
The values above 25 generally indicate a strong trend, while the values below 20 suggest a low or laterally market. The sharp increase in ADX reflects a significant increase in the strength of trends, confirming that Bera has recently experienced a strong directional movement.
Meanwhile, the + DI of Bera is 24.4, against 48.4 two days ago, indicating a weakening of the bullish momentum. Meanwhile, -Di went to 15.1 against 4.9, suggesting an increasing down pressure.
This change indicates that the upward trend that has increased prices loses steam, and the sale of interest is starting to increase.
If -continues to exceed the superior + DI, it could indicate a lowering crossing, signaling a potential reversal or a deeper correction of the price of Bera. However, if + DI stabilizes and moves again, it could suggest a continuation of the upward trend, but with reduced momentum.
Will Berachain fall below $ 6 soon?
Berachain jumped 53% between February 18 and February 20, pushing its price more than $ 8.5 after the medal had trouble following its air post. However, after this net rally, Bera has entered a correction phase and is currently down by almost 15% in the last 24 hours.
This decline suggests taking advantage and a change of feeling of the market, buyers hesitate to increase prices. If the downward trend continues, Bera could soon test support for $ 6.1, and a break below this level could lead to a new drop to $ 5.48, reflecting increased sales pressure.
On the other hand, if Berachain can resume his bullish momentum a few days ago, he could again exceed $ 8.5, potentially testing the following resistance levels at $ 9.1, or even $ 10.
To confirm this bullish scenario, Berachain should see a renewal of the purchase interest and a strong revolving dynamics. If buyers can defend key support levels and push the price above resistance areas, this could indicate the continuation of the upward trend.
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