Berachain (BERA) is down almost 15% in the last 24 hours, with its market cap now at $778 million, although its price remains up nearly 20% over the past seven days. This sharp pullback comes after a strong rally between February 18 and February 20, when BERA reached levels above $8.5.

BERA’s Relative Strength Index (RSI) has dropped from overbought levels, signaling a loss of bullish momentum, while its Directional Movement Index (DMI) shows growing bearish pressure. As BERA navigates this correction phase, it faces key support at $6.1, with potential resistance levels at $8.5, $9.1, and $10 if bullish momentum returns.

BERA RSI Is Dropping Steadily After Touching Overbought Levels

Berachain Relative Strength Index (RSI) is currently at 50.6, down sharply from 86.7 just two days ago when its price surged above $8.5. RSI is a momentum oscillator that measures the speed and change of price movements, ranging from 0 to 100.

It is commonly used to identify overbought or oversold conditions, with values above 70 indicating overbought levels and below 30 suggesting oversold territory.

The steep decline in BERA’s RSI reflects a significant loss of bullish momentum after reaching overbought levels above 86, where a correction was likely.

With RSI now at 50.6, BERA is in a neutral zone, suggesting that buying and selling pressures are relatively balanced.

This could indicate a period of consolidation as the market digests recent gains. If RSI continues to decline below 50, it could signal increasing bearish momentum. This could lead to a further price drop for BERA.

Conversely, if RSI stabilizes and begins to rise, it could suggest renewed buying interest and a potential recovery in Berachain price.

BERA DMI Chart Shows Buyers Are Losing Control

Berachain Directional Movement Index (DMI) chart shows its Average Directional Index (ADX) currently at 50.5, after peaking at 60.2 yesterday, up from just 13.3 five days ago. ADX is an indicator used to measure the strength of a trend, regardless of its direction, ranging from 0 to 100.

Values above 25 typically indicate a strong trend, while values below 20 suggest a weak or sideways market. The sharp rise in ADX reflects a significant increase in trend strength, confirming that BERA has been experiencing strong directional movement recently.

Meanwhile, BERA’s +DI is at 24.4, down from 48.4 two days ago, indicating weakening bullish momentum. Meanwhile, -DI has risen to 15.1 from 4.9, suggesting growing bearish pressure.

This shift signals that the bullish trend that drove prices higher is losing steam, and selling interest is beginning to increase.

If -DI continues to rise above +DI, it could indicate a bearish crossover, signaling a potential reversal or deeper correction in BERA’s price. However, if +DI stabilizes and moves upward again, it could suggest a continuation of the uptrend, albeit with reduced momentum.

Will Berachain Fall Below $6 Soon?

Berachain surged 53% between February 18 and February 20, pushing its price above $8.5 after the coin struggled following its airdrop. However, after this sharp rally, BERA entered a correction phase and is currently down almost 15% in the last 24 hours.

This pullback suggests profit-taking and a shift in market sentiment as buyers hesitate to push prices higher. If the downtrend continues, BERA could soon test the support at $6.1, and a break below this level could lead to a further decline towards $5.48, reflecting increased selling pressure.

On the other hand, if Berachain can regain its bullish momentum from a few days ago, it could rise above $8.5 again, potentially testing the next resistance levels at $9.1 or even $10.

To confirm this bullish scenario, Berachain would need to see renewed buying interest and strong upward momentum. If buyers can defend key support levels and push the price above resistance zones, it could indicate the continuation of the uptrend.

Bitcoin (BTC) has been trading below $100,000 since February 5, facing continued resistance despite attempts at recovery. Recent indicators suggest that sellers have gained control, with BTC’s Directional Movement Index (DMI) showing increased bearish pressure.

However, the Ichimoku Cloud points to a potential reversal if Bitcoin can break above key resistance zones. If bullish momentum returns, BTC could test the $97,756 resistance and possibly retake the $100,000 level, with $102,668 as the next target.

BTC DMI Shows that Sellers Gained Control In the Last 24 Hours

Bitcoin’s Directional Movement Index (DMI) shows its Average Directional Index (ADX) currently at 21.2, after briefly touching 22.9, rising from 15.5 two days ago.

ADX measures the strength of a trend without indicating its direction, ranging from 0 to 100. Typically, values above 25 indicate a strong trend, while values below 20 suggest a weak or ranging market.

With ADX hovering around 21.2, Bitcoin’s trend is relatively weak, signaling a potential transition period.

This suggests that the previous uptrend momentum is losing steam, possibly leading to a reversal or the beginning of a downtrend.

Meanwhile, Bitcoin’s +DI is at 15.5, down from 23.3 just one day ago, indicating a decline in bullish momentum, while -DI has climbed to 21.9 from 9.2, reflecting growing bearish pressure.

This crossover, where -DI has moved above +DI, indicates that sellers are gaining control over the market, potentially signaling a shift from an uptrend to a downtrend.

If -DI continues to rise and +DI remains weak, Bitcoin could see increased selling pressure and a potential price decline. However, if +DI stabilizes and rebounds, Bitcoin might consolidate before choosing a more definitive directional move.

Bitcoin Ichimoku Cloud Paints A Bearish Picture, But It Could Change Soon

The Ichimoku Cloud chart for Bitcoin shows a mixed outlook with early signs of potential recovery. The blue Tenkan-sen line is currently above the red Kijun-sen line.

This crossover suggests that buying pressure is trying to recover, which could support a potential upward move.

However, Bitcoin’s price is still below the Kumo cloud, signaling that the overall trend remains bearish and that resistance is strong above the current levels.

The Kumo cloud ahead is thin and slightly shifting upwards, suggesting that the bearish momentum might be weakening. If Bitcoin can break above the cloud, it would signal a potential trend reversal, especially if the Tenkan-sen continues to lead above the Kijun-sen.

Conversely, if Bitcoin fails to break above the cloud and the Tenkan-sen drops below the Kijun-sen again, it would confirm a continuation of the bearish trend.

For now, Bitcoin faces a crucial resistance zone, and the next move will depend on whether it can clear the cloud or get rejected downward.e

Bitcoin Could Return to $100,000 Very Soon

Bitcoin was on the verge of forming a new golden cross yesterday before the Bybit hack triggered a sharp price drop from $98,000 to roughly $95,000 within four hours.

Its Exponential Moving Average (EMA) lines are still bearish, with short-term EMAs positioned below long-term ones, indicating ongoing downward momentum.

This bearish setup suggests that selling pressure remains dominant. If sellers continue to control the market, Bitcoin could retest the support at $94,818, which was maintained during yesterday’s decline.

If this support breaks, Bitcoin could drop further to $93,415, and a continued downtrend could push it as low as $91,300.

However, if Bitcoin price manages to recover from this drop, there are signs that the downtrend may not be as strong as it seems.

Both the ADX and Ichimoku Cloud indicate weakening bearish momentum, suggesting that a reversal is possible. In this case, Bitcoin could test the resistance at $97,756, and if this level is broken, it could rise to $100,000.

Should the uptrend gain more momentum, Bitcoin could continue climbing to test $102,668, marking its highest levels since early February.

Hackers potentially took control of the official X account of Myanmar’s military junta leader on Saturday, using it to promote a fraudulent cryptocurrency.

This incident could be the part of a growing trend where scammers exploit high-profile political figures to add credibility to scam tokens, deceiving unsuspecting investors.

Another Political Crypto Scam Now Targeting the Myanmar Government

On February 22, the X (formerly Twitter) account belonging to Myanmar’s junta leader, Min Aung Hlaing, began posting about a so-called national cryptocurrency launch.

The posts described it as “Myanmar first national crypto,” attempting to present it as an official digital asset.

Crypto users on X quickly noticed irregularities. The hackers initially shared multiple cryptocurrency wallet addresses before deleting them.

Soon after, they claimed the launch was postponed and provided a new wallet address, raising further suspicion.

“This account from the government of Myanmar has been hacked . Dropped several CAs and deleted, as well as announcing a space then deleted 3 minutes later,” one user wrote on X.

Meanwhile, market observers questioned whether a military-led government could successfully launch a cryptocurrency. They noted that such an initiative contradicts the principles of decentralization.

One user pointed out that state-backed digital assets often serve as a tool for financial control rather than innovation. The analyst also speculated that countries under economic sanctions might explore cryptocurrency as a way to bypass traditional financial systems.

“Signals a shift: more nations exploring state-backed crypto to sidestep sanctions & SWIFT dependence Geopolitically, it’s a test case If it works, expect more isolated regimes to follow This isn’t about innovation but it’s about sovereignty vs financial gatekeeping,” Cedric Beau stated.

Meanwhile, this attack on Myanmar’s junta leader follows a broader pattern of cyber threats targeting political figures.

Earlier this month, the Central African Republic’s President, Faustin-Archange Touadéra, introduced an official meme coin called CAR. The token was meant to highlight the country’s confidence in blockchain technology.

While that initiative was legitimate, hackers have used similar tactics to deceive users by falsely linking government officials to fake token launches.

Just days ago, scammers impersonated Saudi Arabia’s Crown Prince Mohammed bin Salman to promote a fraudulent cryptocurrency.

In another case, anonymous hackers took over the X account of former Malaysian Prime Minister Mahathir Mohamad to push a fake meme coin.

These incidents reveal a troubling pattern of hackers hijacking political figures’ social media accounts to promote fraudulent cryptocurrency schemes. By exploiting their identities, scammers create a false sense of legitimacy for fake tokens.

As these scams become more common, users must stay vigilant and verify sources before engaging with any token promotions linked to public figures.