Berachain (BERA) has been experiencing significant selling pressure in recent days, with the token's price plummeting by 50% over the past week. Technical indicators continue to flash warning signs, reinforcing the bearish sentiment that has dominated the market. The Relative Strength Index (RSI), a commonly used momentum oscillator, is currently at 24.19, remaining below the oversold threshold of 30 since yesterday. This prolonged weakness in the RSI suggests that the token is under consistent bearish pressure and has struggled to recover bullish momentum.

The RSI measures the speed and magnitude of price changes on a scale from 0 to 100, with readings above 70 indicating overbought conditions and values below 30 suggesting that an asset might be oversold and potentially poised for a rebound. Given BERA's current RSI reading of 24.19, a short-term bounce could materialize if buying interest emerges. However, unless the RSI can surpass the neutral 50 level, the overall downtrend may persist.

Additionally, Berachain's Directional Movement Index (DMI) chart reveals that the Average Directional Index (ADX) has surged to 38.52, a substantial increase from 27.56 just two days prior. An ADX value above 25 typically signifies a robust trend, and as it approaches 40, it indicates that the current bearish trend is gaining strength. The DMI comprises two directional indicators: the DI, which monitors upward movement, and the -DI, which tracks downward movement. BERA's DI has increased from 8.94 to 14.44, reflecting a slight uptick in bullish pressure, albeit with limited fluctuations in the past few hours. Conversely, the -DI has decreased from 46.4 to 36.53, implying that bearish dominance is diminishing somewhat.

Despite the narrowing gap between the DI and -DI, which could hint at a possible reversal, the fact that -DI remains dominant and the ADX continues to rise suggests that the downtrend is still in charge, although there are early signs of resistance building from bullish forces.

On the price chart, Berachain exhibits a bearish Exponential Moving Average (EMA) configuration, where short-term moving averages are positioned beneath long-term ones, a classic indicator that downward momentum might endure. Should this correction persist, BERA may breach the $3.80 support level, establishing a new all-time low and further eroding investor confidence in the near term.

Conversely, should the trend reverse and buyers assert themselves, BERA could initiate an upward trajectory towards crucial resistance levels. The initial obstacle lies at $4.44, and a successful breakout beyond this point could pave the way for the next resistance at $4.78. If bullish momentum regains its vigor, Berachain might even surge to revisit the $5.43 level, potentially signaling a transition back into an uptrend.

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