The price of Berachain has fallen to a new low point of all time after the demolition of an important level of support, with the threatening $ 2.7 billion Boyco-Kluizen unlocking on 6 May that threaten to activate.
Berachain (Bera) recently dropped to a new low of $ 2.82 on 4 May, which marked a decrease of 80% of the post-launch of all time high from $ 14.83. This also reflects a decrease of approximately 68% compared to the most recent local peak of $ 8.94 on March 29.
That steep and persistent sale from March 29 Peak found a temporary exemption on 9 April, when buyers entered the $ 3.20 level, proven by a large bullish candle accompanied by a spin in volume on the daily hit list. This established $ 3.20 as a critical horizontal support zone, while resistance was around $ 4.20.
However, the support of $ 3.20 was broken on 3 May, with a daily close by under $ 3.14 that a Bearish Breakdown confirmed. The sale further accelerated on 4 May and pushed the price to his low of $ 2.82. The price has since returned somewhat and is currently being traded at $ 2.95.
Since the beginning of April, Token of Berachain has been acting well under both the EMA 20 and SMA 50, and the recent demolition of the support level of $ 3.20 has driven the price even further under this downward advancing advanced averages, which strengthens the Bearish trend.
RSI is 29, deep in the zone and not yet returned, which indicates continuous weakness. The MacD histogram is somewhat positive, but both lines are still below zero and flat, which indicates a negative and low momentum. ATR suggests low volatility, while the Bollinger band width is very narrow, indicating that the circumstances of the Knqueze are indicated – often followed by sharp movements.
With the recent breakdown of an important support level and price trade under EMA 20 and SMA 50, combined with BBW Squeeze conditions, a further breakdown is probably – especially with the imminent $ 2.7 billion TVL unlocks from Boyco Vaults Planned for tomorrow, May 6.
The following likely breakdown zones are the psychological levels of $ 2.50, then $ 2.00, and possibly $ 1.50 if the liquidity of the TVL unlocks, extracts extreme sales pressure.
