Berachain gains 20% in 24 hours – Mapping what’s next

Key Points

1. Berachain's price surged 20% in 24 hours, closely following SPX6900's 21% rise in the meme sector.

2. The momentum was driven by on-chain activity, including a 15.79% increase in transactions (1.173 million) and a record high of 5.5 million unique addresses.

3. Governance proposals, such as 33% block rewards to stakers, protocol-level buybacks, and a 7-day unbonding period, contributed to the price rise.

4. Technical analysis suggests BERA could reach $3 if it holds above $2, with $2.5 as the next key level; reclaiming $3.5 could pave the way to $4.5.

5. Whale activity and buyer dominance in spot markets were noted, while derivatives markets remained neutral, indicating indecision.