BERA/USDT Pair Technical Analysis
Looking at the chart on 4H timeframe, we see that there is a falling wedge pattern and this pattern has been narrowing. The price of the coin has been consolidating within this formation and now ready for a breakout. The price has tested the upper boundary of the wedge and rejected from this area. The price holding above $1.58 is a good thing and we have the lower trend support below this level. Such formations usually target upward breakouts and we see that a breakout is on the way and nearing. BERA will move up to the resistance area between $1.80–$1.91 in the short term in case of a possible breakout. Following this zone, the price can climb up to $2.71–$2.89 in the middle term.
In summary:
- There is a falling wedge formation
- This formation technically targets upward breakout
- The price has consolidated and recently tested upper boundary many times
- Support level is $1.58 and nearest resistance level is $1.80
These analyses, not offering any kind of investment advice, focus on support and resistance levels considered to offer trading opportunities in the short and medium term according to the market conditions. However, the user is responsible for their own actions and risk management. Moreover, it is highly recommended to use stop loss (SL) during the transactions.
