Berachain (BERA) Analysis: New All-Time High if Price Breaks This Pattern

Key Takeaways

• Berachain (BERA) trades inside a symmetrical triangle.
• The price broke out from a short-term parallel channel.
• Can Bearachain continue increasing to a new all-time high?
• Interested in buying or selling BERACHAIN (BERA)? Read our review of the best exchanges to buy and sell BERACHAIN (BERA)?

The Berachain mainnet debuted on Feb. 6 with a successful airdrop. The price fell sharply after its launch but has regained its footing, creating several higher lows.

Adding to the positive momentum, BERA broke out from a short-term parallel channel, a sign that it is targeting new highs. Considering that, let’s analyze the Berachain price action and see if a new all-time high awaits.

BERA Price Breaks Out

The short-term 2-hour chart shows that BERA broke out from an ascending parallel channel containing upward movement since March 11.

The breakout suggests that the increase is not corrective but that BERA has started a new rally that will take it to new highs.

After reaching a high of $8.06, the Berachain price fell slightly, validating the channel’s resistance trend line as support.

Technical indicators have reset, with the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) falling from their overbought territories.

This coincides with the retest of the channel’s resistance trend line and could lead to the continuation of the upward movement.

Final Corrective Wave

The 12-hour time frame chart shows that BERA has traded inside a symmetrical triangle since its launch, bouncing between its support and resistance trend lines.

According to the wave count, BERA completes wave E in the triangle structure, which could end at the $7 support area or the triangle’s support trend line.

Looking for a safe place to buy and sell BERACHAIN (BERA)? See the leading platforms for buying and selling BERACHAIN (BERA).

If BERA breaks out, it could face minor resistance at $8.90, created by the current all-time high region.

However, the main resistance level would be at $12.37, created by the 1.61 external Fibonacci retracement of the triangle’s height. This would be a new all-time high price for Berachain.

Technical indicators support this bullish BERA prediction since the RSI and MACD are increasing and have crossed their bullish thresholds.

So, the most likely future outlook is a breakout from the triangle after wave E ends, taking the price to the next resistance at $12.37.

New BERA All-Time High

The Berachain price shows short-term bullish signs with a breakout from an ascending parallel channel.

Berachain’s long-term outlook is also positive, which will be confirmed with a breakout from the symmetrical triangle.

If that happens, BERA can reach a new all-time high of $12.37.