Berachain Nears Crucial Resistance After 36% Weekly Surge

Berachain’s native token (BERA) has surged over 35% in the past week, trading at approximately $7.89. Technical analysis shows that BERA is approaching a key resistance level of about $8.34, with a potential breakout possibly driving prices toward the $10 psychological barrier. Indicators such as a rising Relative Strength Index (RSI) nearing overbought conditions at 59, converging moving averages, and tightening Bollinger Bands support the bullish trend. Although there has been a 33% drop in the 24-hour trading volume to $187.7 million, on-chain metrics are positive, as the network’s total value locked has risen close to its record-high. The recent launch of the proof-of-liquidity system, which introduces new governance measures and vault rewards via BGT emissions, further bolsters market confidence. In summary, these factors collectively highlight a period of bullish momentum with critical resistance levels that traders are closely monitoring.