BERA, a Layer-1 cryptocurrency, has experienced a 13% increase in value over the past day, distinguishing itself as the top-performing crypto asset during this timeframe. The recent rally has brought BERA close to its peak value of $15.20, sparking renewed interest among investors.
The notable rise in BERA’s value is supported by robust buying pressure, as evidenced by its positive Chaikin Money Flow (CMF) indicator.
Currently, the CMF, which tracks capital movements into an asset, stands above the neutral line at 0.04. This upward trend in CMF suggests that increased trading volume is underpinning BERA's rally, enhancing its potential longevity and reducing the likelihood of a short-lived spike.
Moreover, on Wednesday, BERA saw spot inflows totaling $316,120, reversing capital outflows of $2.60 million from the day before. Spot inflows indicate heightened direct buying on exchanges, reflecting strong investor demand and signaling bullish momentum in the BERA market.
Currently trading at $6.52, BERA faces resistance at $8.49. Should demand for the altcoin increase further, it could surpass this level and target its all-time high of $15.20. However, the onset of profit-taking could alter this outlook, potentially leading BERA’s price to drop to $5.37. Failure to maintain this support level might see the coin's value fall further to $3.89.
Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.