Technical Analysis - Berachain (BERAUSDC)

1. Current Trend:

• The asset is in a downtrend, clearly below the moving average (possibly the 50-period, orange line).

• The average is pointed downwards, confirming the selling bias.

2. Important Support:

• The range of $3.00 to $3.20 has proven to be a strong support zone. This is confirmed by several previous touches and rejections in the same area (marked with the red rectangle).

• The current quote is testing this support again, and a loss with volume could lead to a further drop, seeking levels below $2.90.

3. Immediate Resistance:

• The next relevant resistance is in the range of $3.70 to $4.00, where there have been recent highs.

• To change the bias, the asset needs to break this region and sustain above the moving average.

4. Possible Trade Scenario:

• Long (buy): Only if there is confirmation of a double bottom or a reversal candle with volume above $3.20.

• Short (sell): Can be considered if the $3.00 support is lost with a strong candle, targeting the region of $2.50 to $2.70 as the next target.

5. Chart Sentiment:

• The current chart pattern is accumulation at support, but still without clear buying strength.

• The asset remains pressured by the average, indicating that sellers continue to be in control.

Summary: I closed 90% of the short position and bought $BERA