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The Berachain price pumped over 12% in the last 24 hours to trade at $7.90 as of 6:12 a.m. EST as investors rush to buy the altcoin.
The 24-hour gain is a continuation of the BERA token’s positive weekly trend. As a result, the crypto is now up more than 29% on the 7-day time frame.
Berachain Price Trying To Flip Resistance
4-hour chart for BERA/USD (Source: Geckoterminal)
The Berachain price is attempting to overcome a resistance level at $7.8763, GeckoTerminal data shows. Should the crypto close a 4-hour candle above this technical barrier within the next 12 hours, it could have the foundation needed to rise to the subsequent mark at $8.2379. Clearing this resistance could then set the crypto up to continue rising in the short term.
However, a rejection from the $7.8763 barrier might mark the end of the altcoin’s bullish move. In this more bearish case, the Berachain price might test the closest support at $7.4957.
If sellers push BERA below this point, the crypto could fall all the way down to $7.1151.
Bulls Might Look To Push The Berachain Price Up Higher
Looking at technical indicators on BERA’s 4-hour chart, it seems bulls have re-entered the altcoin’s order books.
More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing early positive signs. Should there be an increase in buy pressure, it could push the Berachain price up higher in the next 24 hours.
In the last few hours, RSI readings have started to rise again after a brief drop. The current reading above 70 indicates that BERA is currently in overbought territory, which is typically seen as a sell signal. However, the positive slope of the RSI line suggests that buyers are growing stronger against sellers.
Meanwhile, the MACD line has started to break away above the MACD Signal line again after the margin between the two technical indicators started to narrow. Traders might see this as an indication that BERA’s positive momentum is picking up steam.
As the Berachain price tries to keep its bullish move going, investors are flocking to the presale for Solana layer-2 crypto Solaxy (SOLX).
According to crypto analyst and YouTuber Jacob Bury, who has over 55.7K subscribers, SOLX could rise 10X after its launch.
Solana Has Become Congested, But Solaxy Is Here To Help
An investor frenzy has erupted around SOL-based meme coins in recent months. Opportunistic developers looking to profit from the hype have subsequently launched multiple new tokens.
This influx of meme coins has resulted in high levels of congestion on the Solana blockchain, which could lead to another network outage if something does not change soon.
Solaxy, the first layer-2 scaling solution for the Solana network, aims to prevent more downtime for the popular layer-1 blockchain.
To do this, the project will utilize scaling technologies called rollups to bundle SOL transactions off of the Solana mainnet and on its own chain. Thereafter, it will submit the batches of transactions to the Solana network for final validation.
Solaxy’s approach to transaction processing is similar to the one used by layer-2 projects Arbitrum and Optimism within the Ethereum ecosystem.
The rollups that make this possible have also helped increase Ethereum’s transaction efficiency while also keeping processing times low and maintaining high speeds.
After Solaxy implements the same scaling technology used within the Ethereum ecosystem, the project will try to bridge the Solana and Ethereum blockchains. This will create a new and improved Web3 infrastructure that combines the strength of two of the most prominent networks in the crypto space.
Solaxy Presale Storms Toward $28 Million
Investors are betting big on Solaxy’s future, and have already poured more than $27.8 million into the project’s presale.
With the bullish predictions by experts like Jacob Bury and the project’s mission to scale Solana, it’s easy to see why investors are so excited about Solaxy at this early stage.
Interested investors still have time to participate in the project’s presale. Selling for $0.001674, SOLX can be bought with both crypto or bank card via the simple buy widget embedded on the project’s website.
After buying some SOLX, investors can then stake their tokens for an attractive 146% annual return.
Anyone who wants to buy at the best presale rate will want to act fast because the token’s price will undergo a series of increases as its ICO progresses. The next presale price hike is set to take place in a little more than 1 day.
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