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This Crypto Coin Just Did a Swan Dive—Are The Bulls on Life Support?

BBG News

Oy vey! Berachain’s going down faster than my cholesterol after a brisk walk. Down 21% in a week, nearly 40% in a month—my mother hasn’t even dropped that kind of weight on Weight Watchers. And the technicals? Let’s just say if you want a happy ending, go watch a Disney movie. 😂

At this very dramatic moment, Berachain (BERA) is spiraling at $2.88. That’s a nosedive of more than 80% from its glory days at $14.83. I’ve seen more stable prices at a dollar store clearance sale. And remember that hot streak up to $8.94 in March? Toast. All because Boyco Vaults—think Vegas, but with less chance of you walking away with your shirt—unlocked $2.7 billion of total value. This included 2% delicious slices of BERA’s total supply. Boom! Sudden dump. 🤑

Of course, once those vaults swung open like my Aunt Irma’s mouth at the buffet, the market started spinning like a dreidel. Sellers everywhere, volatility through the roof. On May 4, BERA did the limbo under $2.82—a new record low! Right now, the only thing supporting this coin is hope and possibly some duct tape.

But hey! Trading volume’s up 105% to $120.7 million in the last day. Apparently, everyone loves a car crash—especially one with candles and fib retracements. Coinglass data shows derivative volume spiked 71% to $218.3 million. Open interest is down 6.3%, which probably means a bunch of folks ran for cover, clutching their hats and hoping nobody noticed.

That long/short ratio at 0.926? Let’s just say the bears are throwing a block party and the bulls showed up with potato salad and regret.

BERA’s hanging by its fingernails at $2.88, teetering above “psychological support” which sounds like a fancy way of saying “please, please don’t go lower.” Below all the moving averages, Bollinger Bands squeezed tighter than my pants after Thanksgiving. Something’s about to pop—let’s hope it’s not your stop-loss.

Now, the relative strength index is a weepy 28.67, deep in oversold territory. Sure, this could mean the bears are tired, but let’s be honest: if there’s no volume pop or unicorn-shaped bullish divergence, any rally will last about as long as my last marriage. 🥁

If sellers keep pounding away, BERA’s got a one-way ticket to below $2.80, maybe stopping at $2.50 for a quick nosh at the support deli. If the bulls grow a spine and push us past $3.40, maybe there’s a shot for a $4.00 miracle. Until then, watch out below, because gravity and crypto are working together—and they’re not in a giving mood.

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2025-05-07 09:43

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