Berachain eyes resistance after 36% weekly gain
Berachain has gained over 35% in the past week, regaining strength after a consolidation phase.
Trading at $7.89 as of press time, Berachain (BERA) is nearing a crucial resistance level of $8.34. A breakout from here might pave the way for additional gains, possibly toward the $10 psychological price. The relative strength index has climbed to 59, moving closer to overbought levels but still leaving room for upside.
With immediate support at $6.53 and a stronger floor at $5.14, Bollinger Bands indicate that the price is tightening within a range. Both the 10-day and 20-day estimated moving averages support additional upward movement, confirming the bullish trend.
The moving average convergence/divergence indicator is still positive at 0.282, indicating continued momentum. However, 24-hour trading volume has dipped 33% to $187.7 million, suggesting some cooling in buying pressure.
Berachain’s bullish case is supported by on-chain data. The network’s total value locked has risen to $3.14 billion, bringing it closer to its record high of $3.26 billion on Mar. 3, as per DefiLlama data.
Between Mar. 23 and Mar. 25, the decentralized exchange trading volume increased from $36 million to $132 million. In addition, the network’s stablecoin market cap has reached a record high of $1.2 billion.
Berachain’s latest rally follows the launch of its proof-of-liquidity system on Mar. 24, expanding governance and emissions beyond its native BEX pools. POL allows users to earn rewards through new vaults distributing BGT emissions. Within hours, active incentives hit $355,000, with the top vault offering an APR of over 200%.
With BERA still 45.8% below its all-time high of $14.83, traders are closely watching whether it can break past $8.34. A strong close above this level could push prices higher, but failure may trigger a pullback toward $6.53 or $5.14. The RSI’s next move will likely determine whether the rally continues or if profit-taking sets in.
