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- Berachain (BERA) surged 65% in two weeks and is now testing the key $8.60 resistance level before a potential breakout.
- Ali Martinez predicts BERA could rally to $14 if it crosses the $8.60 mark, with bulls gaining momentum fast.
- Rising trading volume signals growing investor interest as BERA hovers near resistance with a possible pullback to $7.
A strong 65% spike in the value has been witnessed in the price of Berachain (BERA) within a span of just two weeks. The token is now aiming to touch and break a significant resistance level of $8.60. Ali Martinez pointed that when BERA gets over this level, the price may soar up to and even over $14.
Berachain Breaks Key Levels
Martinez presented a price chart that pointed to the recent increase in BERA. The chart shows a clear uptrend, prevailing after the token rose above the $7 which was a major resistance level. Since then, there is an improvement in bull enthusiasm. Increased quantity purchasing has been witnessed on the side of the buyers.
In early March, the price of Berachain was at $5 and below. The price was oscillating in a narrow range throughout the period under consideration. Continuing the upward trend, on March 11, the token gained a breakthrough of the $7 mark. That breakout triggered buying pressure.
From Martinez’s perspective, $8.60 serves as a significant level. However, if BERA breaks it, these circumstances may provoke a rally toward $14. Traders are watching closely. Some people think it is possible to happen anytime soon. This might be Berachain’s moment which may signify the beginning of something new for them. As of press time, Berachain is trading at $8.48, slightly below the critical resistance level.
Source: TradingView
BERA Faces Market Test
On the other hand, if the price does not manage to move up, then it may pull back. Analysts indicated that there may be a potential support level at $7 that may be penetrated and a possible test of fresh lows imminent. This would create new opportunity for new buyers to enter the market. Such corrections are usually made before the next big move.
There is also a growing trading volume regarding BERA. Volume has increased across platforms. Currently Berachain is at the crossroad on the technical level. Depending on how the token will turn after that, it will influence sentiment on investors.
As BERA remains close to the resistance, pressure increases. A similar move out could indicate the continuation of the up move and hence extend to new higher levels. Traders are ready. Investors are hopeful. This means that all eyes are now set on the next move by Berachain. As to whether it will get to $14 or retrace first, it is hard to decide. The coming days may decide.
