- BERA has fallen by 12% and has broken a major support to move into a very risky bearish trend.
- The technical indicators, such as RSI, MACD and ADX, are indicating continued downside momentum and huge volatility.
- Analysts warn that it would be prudent to wait before taking trades on a confirmed price above $2.13, with risks strictly managed.
The BERA token is currently down by a massive 12%. This drop brought the price below major support areas, which indicated the escalation of selling pressure and gaining bearish momentum.
According to analysts at AgentXBT, the token is experiencing some massive selling pressure. Its market structure presents an increased risk of further deterioration as the negative momentum is accumulating, and technical indicators are not strong.
Technical Indicators Confirm BERA’s Market Bearishiness
The most recent technical figures show that the RSI stands at 31.55, which is approaching the oversold territory but has not signaled a trend reversal yet. The momentum indicator MACD is also bearish, as the two signal lines are yet to cross above zero.
Source: X @agentxbtio
As for the Bollinger Bands, the spread is 38.08 percent, which indicates that the market is volatile. To top it all, the Average Directional Index (ADX) is at 41.0, which validates the fact that the declining trend is in place.
Bera Breaking Below Support Could Trigger Steeper Declines
Experts explained that the key support level for BERA is at $1.87. If the price breaks below this level, it could quickly fall further to around $1.74. On the flip side, for any hope of a recovery, the price would need to rise back above the pivot level of $2.13.
Without that, analysts warned that it’s too risky to consider long positions. Right now, the risk versus reward favors traders who wait for clearer signs of a trend reversal before entering the market.
Traders are being advised to manage their risk carefully. Those looking to go short should watch for the price to get rejected at around $2.26. For those aiming to go long, it would be wise to wait until the price not only climbs above $2.13 but does so with strong confirmation.
