BERA Price Analysis

BERA is currently navigating a crucial junction in its technical structure as it starts to recover from a key horizontal support level.

Key Takeaways:

BERA is currently at a crucial junction in its technical structure as it starts to recover from a key horizontal support level.

Its higher time frame chart suggests the completion of a corrective phase and the beginning of a new bullish impulse, but confirmations are soon to come.

The lower time frame reveals the early unfolding of a potential impulsive sequence, offering both a retracement opportunity and a short-term upside target.

BERA Price Analysis:

The 4-hour chart reveals that BERA ended a five-wave impulse on March 29, returning to its horizontal resistance at around $9.

This was projected in the bullish scenario due to a symmetrical triangle breakout.

From there, we saw a steep decline to the 0.5 Fibonacci retracement at $6.60. This significant level served as support/resistance in the past and now caused a 7% bounce.

The price currently interacts with the 0.382 Fib level at $7, but visible signs of struggle are now present, which is why more upside appears highly likely.

The Relative Strength Index (RSI) on this timeframe fell to the oversold zone on March 31 and has since recovered to 41% indicating emerging bullish momentum.

Additionally, it broke the downtrend’s descending resistance, which could be another sign of the starting bullish upturn.

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Should the price cross 0.382 with strong bullish momentum and continue its upward trajectory, there will be a strong chance that it will enter a new bull phase, leading to a new all-time high.

BERA Price Prediction:

The 15-minute chart shows BERA in the early stages of what may be a developing five-wave structure within a new impulse.

Following a corrective ABC retracement down to $6.60 (0.5 Fib), price has carved out a sharp upward move.

We can label (i) followed by a shallow pullback for (ii). Price is now forming higher highs and higher lows, signaling the start of (iii), which often extends more aggressively.

However, there are two scenarios ahead, as the current recovery can still be a corrective one.

In the bullish case, the price finished a five-wave impulse on March 29, followed by an ABC correction to yesterday’s low.

We can anticipate the development of a five-wave impulse of the lower-degree count to our short-term target of $7.80 at the 0.236 Fib.

Alternatively, the price finished its wave 3 on the 0.5 Fib yesterday, with the current rise being its corrective wave 4.

The sub-waves are counted as an ABC and will finish at the $7.40 resistance. Ultimately, that will lead to another downturn and a lower low of $6.

This is why the $7.40 level serves as a pivot point between scenarios. If the price continues moving above it, bullish scenarios will be validated.

If the price is rejected and falls below $7.119, a bearish scenario of further downtrend continuation will appear more likely.

Key Levels to Watch: