Berachain (BERA) Nears Symmetrical Triangle Completion — Breakout Imminent

Key Takeaways

• BERA is in a corrective phase, testing key Fibonacci levels and descending trendline resistance.
• A breakout above $6.94 could confirm a bullish reversal, targeting $7.95 and $8.53.
• Failure to hold $5.70 support may lead to further downside, potentially reaching $4.76.
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Berachain (BERA) is currently navigating a complex corrective phase. Price action is testing key Fibonacci retracement levels and descending trendline resistance.

The broader market structure suggests a potential reversal if bulls can break above crucial resistance levels.

BERA Price Analysis

The 4-hour chart of BERA reveals a corrective ABC structure. After completing a five-wave impulse, the price has consolidated within a symmetrical triangle.

The last corrective wave (C) found support at $5.70 (0.786 Fibonacci retracement), aligning with a key demand zone.

The price currently tests the 0.618 Fibonacci retracement at $6.43, coinciding with a descending trendline resistance. This area is critical for determining the next move.

If rejected, BERA could revisit the lower support zone around $5.70-$5.78 before attempting another push higher.

The Relative Strength Index (RSI) on the 4-hour chart remains neutral but shows a gradual uptick, indicating buyers are attempting to regain control.

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However, without a decisive breakout above $6.94 (0.5 Fibonacci retracement), the bearish corrective trend may continue, potentially targeting $4.76 (1.0 Fibonacci extension) in a deeper wave correction.

Overall, the market structure suggests a pivotal moment. A break above the descending resistance would confirm a bullish reversal, while a rejection could lead to further downside.

BERA Price Prediction

Zooming into the 1-hour chart, BERA shows signs of a potential wave (iii) extension, with Fibonacci projections pointing toward $7.48 (1.0 Fibonacci extension) as the next target.

However, the price struggles to clear the descending trendline resistance, making it vulnerable to another short-term pullback.

If the current upward push fails to sustain momentum, BERA could decline toward $5.78 (0 Fibonacci extension), forming a possible wave (ii) correction before another impulsive rally.

The wave (iv) resistance zone around $7.12 to $7.48 will be the key area to confirm further upside potential.

In the bullish scenario, if BERA breaks and holds above $6.94, it could accelerate towards $7.95 (1.272 extension) and ultimately $8.53 (1.618 extension).

This would indicate a continuation of the uptrend, likely forming a larger degree wave (iii) targeting these Fibonacci extensions.

Conversely, failure to break above $6.94-$7.12 could result in another rejection, leading to a retest of $5.70 or lower before a definitive trend direction is established.

A confirmed breakout above $6.94 could shift momentum bullish, while a failure to hold $5.70 would suggest further downside risks.

Key Levels to Watch

• Immediate Resistance: $6.94 (0.5 Fibonacci retracement).
• Key Resistance: $7.48 (1.0 Fibonacci extension).
• Major Resistance: $8.53 (1.618 Fibonacci extension).
• Immediate Support: $6.18 (0.236 Fibonacci retracement).
• Key Support: $5.70 (0.786 Fibonacci retracement).
• Critical Support: $4.76 (1.0 Fibonacci extension).