Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Is It Too Late To Buy BEAM? Beam Price Soars 13% In A Week And This Might Be The Next Crypto To Explode

Is It Too Late To Buy BEAM? Beam Price Soars 13% In A Week And This Might Be The Next Crypto To Explode

InsidebitcoinInsidebitcoin2024/10/23 08:06
By:Insidebitcoin

The Beam price surged 13% in a week and 6% in the last 24 hours to trade at $0.01974 as of 00:22 a.m. EST on trading volume that skyrocketed 168% to $90 million.

Beam Price Could Continue Soaring

The BEAM/USD chart analysis on the 4-hour timeframe shows that after a recent price downtrend, the bulls have been able to use the support around $0.0142 to push the Beam price on a markup phase, according to data from GeckoTerminal .

The $0.018 resistance allowed the price of Beam to form a rounding bottom pattern, which allowed the bulls to push BEAM to a follow-through above the current price.

As a result of the recent surge, BEAM trades above both the 50-day and 200-day Simple Moving Averages (SMAs), affirming the continued bullish rally.

Moreover, the Relative Strength Index (RSI) is at 70.21, just at the overbought level. This implies that although the current momentum is strong, the price may be approaching a temporary overbought condition, suggesting the possibility of short-term consolidation or a pullback before continuing higher.

The MACD line (blue) is above the signal line (orange) and both are in positive territory, which is a bullish signal. The histogram is also positive, showing increasing momentum to the upside. No sign of bearish divergence yet, meaning the uptrend is still intact.

BEAMUSD Chart Analysis Source: GeckoTerminal.com

Beam Price Prediction

The Beam price chart shows a bullish trend overall, supported by key indicators like the SMAs, RSI, and MACD. While the RSI is near overbought, signaling potential short-term consolidation, the setup looks positive for further upside, particularly if resistance at 0.02000 is broken.

In such a scenario, the bulls could take full charge of the price as they aim for the next possible resistance at $0.024.

However, with the RSI being overbought, it shows that the price of Beam is overvalued and is due for a pullback. If the bears succeed in pulling the price back, the $0.016 support acts as the next possible support level.

Meanwhile, investors are also piling into the new meme token  Memebet Casino (MEMEBET Token) , which has already amassed over $508K in presale.

Cryptonews, a prominent crypto channel on YouTube with over 11K subscribers, says that $MEMEBET Token could soar 100X after its launch.

Memebet Token Heads For $1 Million – Next Crypto To Explode?

Memebet Casino is the only web and Telegram casino where you can wager with meme coins. 

Catering to the degen community, the Memebet Token team aims to create an exceptional user experience by offering diverse casino games, a sportsbook, and high-stakes options within a community-focused environment.

Users can place bets using meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and others.

Users who place bets using $MEMEBET Token can also earn additional tokens in return. The platform’s play-to-earn component means that the more a user wagers with the $MEMEBET token, the larger their share of the rewards.

$MEMEBET Token also promises massive P2E airdrops, special degen rewards, and exclusive VIP benefits.

To join the presale, you can buy $MEMEBET Token on the official website for $0.026 using USDT, ETH, or a bank card. With a price hike coming in less than 2 hours, buy quickly to lock in the best deal.

Related News

  • Best Staking Coins to Buy in 2024 – Earn Crypto Passive Income
  • How to Make Money with Cryptocurrency – 8 Best Ways
  • 5 Best Altcoins to Buy Now October 22 – Raydium, Uniswap, Jupiter, TRON
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

BTC sees early Election Day boost above $70K

CoinFund president Chris Perkins said crypto voters will influence a number of election outcomes

Blockworks2024/11/06 18:33

Bitcoin hits new all-time high on Trump presidential victory

Bitcoin markets soared just after 10 pm ET on election night, briefly surpassing $75,000

Blockworks2024/11/06 18:33

Polymarket resolves US presidential election winner bets as AP, Fox and NBC call it for Trump

Polymarket has resolved its U.S. presidential election market after major news organizations called it for Trump.U.S. presidential election bets on Polymarket reached more than $3 billion in trading volume ahead of the election.

The Block2024/11/06 18:11