Berachain (BERA) price continues to bleed. The token is down 21% in the last 24 hours, bringing its 30-day losses to nearly 40% and seven-day losses to more than 80% from its peak of $14.83. It is now trading at $2.88 at the time of writing.
Boyco Vaults, a pre-launch liquidity program that lets users deposit assets in exchange for early rewards or "Boyco tokens," unlocked $2.7 billion in total value locked on May 6. A sizable portion of these assets is expected to enter the market after the unlock, bringing strong selling pressure and sparking volatility in all of the main trading pairs.
These assets include 2% of BERA’s total supply, which is expected to be released from May 6, according to Boyco’s website.
Just before the unlock on May 4, BERA briefly hit a record low of $2.82 and is still seen to be experiencing strong downward pressure. However, trading volume increased by 105% to $120.7 million over the last 24 hours, suggesting that market activity is growing.
According to CoinGlass data, BERA’s 24-hour derivatives volume increased 71% to $218.3 million, while open interest decreased 6.3% to $81.4 million. This implies that some traders may be closing out positions due to the pending liquidity unlock, which is likely to bring more volatility. There is a slight bearish bias as shown by a 24-hour long/short ratio of 0.926.
At $2.88, BERA is trading just above important psychological support on the daily chart. Price remains fully contained below the 20-day and 50-day moving averages, while Bollinger Bands show a strong contraction, which usually indicates a squeeze in volatility and a potential sharp move ahead.
The relative strength index is well into oversold territory at 28.67, suggesting that bearish momentum may be overextended but not necessarily exhausted. However, unless there is a strong volume breakout or a verified bullish divergence on lower timeframes, any bounce from current levels might not last long.
If sellers keep pushing lower, BERA risks a breakdown below $2.80, potentially retesting $2.50, a key psychological level and likely next support. A short-term rally toward $4.00 seems possible only if bulls can defend current levels and push BERA back above $3.40, which is the mid-Bollinger Band and the previous support that turned into resistance. But until stronger accumulation appears, the path of least resistance is still downward.
