Berachain (BERA) has surged by approximately 7% in the past 24 hours, propelling its market cap above $900 million. The impressive uptick in price is being backed by robust technical indicators, with the RSI nearing overbought levels and the DMI indicating strong buyer control.
If the current upward trend persists, BERA may revisit levels above $8.5 and potentially challenge resistance at $9. Conversely, a loss of momentum could lead to testing crucial support levels at $6.18 and $5.48, determining the next potential direction.
A glance at Berachain's RSI reveals a current reading of 61.97, up from 35.9 just three days ago after a prolonged period of neutrality. The RSI, a momentum indicator that ranges from 0 to 100, suggests that the price is nearing overbought territory but remains neutral at present.
Meanwhile, Berachain's DMI indicates an ADX of 34.4, up from 19.3 two days ago, signifying a strengthening uptrend. The +DI and -DI configuration further supports the notion that buyers are firmly in control, with bullish momentum on the rise.
As the momentum builds and market conviction grows, the possibility of BERA reclaiming levels above $9 in the near future gains traction. Keep an eye on key support and resistance levels as they will play a crucial role in determining the cryptocurrency's next moves.
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