Berachain’s native token BERA has fallen sharply following a massive rally, with technical and on-chain indicators pointing to continued weakness. The altcoin dropped over 18% in 24 hours, with analysis suggesting a further 45% decline is possible if key support is not reclaimed. Data shows declining ecosystem activity and mixed sentiment among traders.
The price of Berachain‘s BERA token fell over 18% in 24 hours, trading near $0.655. This decline occurred alongside a 75% drop in trading volume to $331 million.
Technical analysis indicated the loss of a key local support level at $0.706. A failure to reclaim this level could lead to a further 45% drop toward $0.35.
On-chain data from DeFiLlama revealed declines in the chain’s Total Value Locked, revenue, and DEX volume over three days. This suggested weakening user activity and market confidence within the ecosystem.
Derivatives data showed a mixed sentiment landscape among market participants. Spot inflow/outflow figures indicated over $644,000 flowed out, a potential sign of accumulation.
Meanwhile, liquidation maps from Coinglass showed traders built approximately $3.71 million in short-leveraged positions around the $0.708 resistance level. Approximately $641,000 in long-leveraged positions were placed near the $0.64 support zone.
Overall, the analysis of positions suggested bearish traders remained dominant. The asset’s Average Directional Index reading of 33.65 indicated a strong ongoing trend.
