The Berachain Token Has Already Fallen By 33+% After The Airdrop

Let’s take a look at what is happening in the Berachain (BERA) market and what to expect from the cryptocurrency price after the airdrop.

Berachain is Losing Popularity

The new cryptocurrency from Berachain is currently dominated by bearish momentum, as the relative strength index (RSI) is below 50.0. This means that the balance of power is on the side of sellers, which prevents the token price from rising.

If the market sentiment does not change to a more bullish one, it will be difficult for BERA to start recovering. Without support from buyers, the altcoin will likely remain in a phase of consolidation or even a more rapid decline.

Meanwhile, the Chaikin Money Flow (CMF) indicator is below the neutral zero line. This means that investors are in no hurry to invest in BERA, and capital inflows remain very weak. The market is probably not yet confident in the long-term viability of the token.

Traders are often very cautious about newly launched altcoins. If the Berachain token fails to gain the trust of the market, money will not be invested in it. In such conditions, the price will continue to fall, limiting the cryptocurrency’s ability to recover.

BERA Forecast: Is a Breakout Likely?

At the time of writing this analysis, BERA is trading at $7.63, consolidating in the range between $7.07 and $8.72 in the last 12 hours. At the same time, the token’s decline per day has already amounted to almost 34%.

The movement within the specified range is a consequence of bearish sentiment and weak investor interest. Without a breakout, the price dynamics of the new altcoin will probably remain sluggish.

If sales pressure continues to be strong, the current decline will continue, bringing the cryptocurrency to new lows. Most likely, BERA will go to test support at $5.00.

However, there is also a more positive scenario. The trend may reverse if the cryptocurrency consolidates above $8.72 as a new support. A successful overcoming of this barrier will clear the way to $9.85. Such an increase will cancel the bearish forecast and mark the beginning of further recovery.