BEAM crypto’s prolonged downfall might cease soon and green days could be witnessed in the coming sessions. The breakout potential could outpace other cryptos in the market.
Many analysts in the market believe BEAM price structure to be highly bullish. Previously, the market cap had taken a significant hit and lost its value globally.
The market had declined to $534 Million by August 5th, 2024, which improved thereon with rising bullish interest. At press time, the market cap surged nearly 5% to $754.67 Million and ranked 78th among the top 100 cryptocurrencies by market cap, per CoinMarketCap.
Similarly, the spot volume inflow indicated growing demand in the market, with an intraday 18% surge to $13.99 Million. Despite the lack of long-term holders, traders and cruisers are active. Whale holdings are 70.25% of the most floating supply assets.
Analyst: BEAM Crypto Could Propel Over 100x in 2025
In the year-to-date (YTD) span, the BEAM token price displayed a pronounced downtrend, with a steady decline over the past few months. As a result, a downward channel formed as illustrated by the development of a consistent lower-low spree.
Inside that channel, the BEAM crypto price advanced by over 50% from lower to higher borders this month. At the higher border, it has breached the dynamic resistance of the 20-day EMA and the upper border.
This week, a key level halted the breakout, and BEAM crypto is now forming a pullback in the 4-hour chart. $0.0169 is acting as a Change of Character (CHoCH) point, if BEAM surpasses this, it could reach $0.0202.
4-H Chart | Source: TradingView
However, in the event of a price resurgence, on the daily chart, the CHoCH level stands at $0.0202. When surpassed, next month’s targets could be $0.0233 and $0.0300, respectively.
Presently, BEAM price is trading at $0.01519, the overall price action analysed for this piece gives a bullish outlook.
Crypto enthusiast @godeLives (Godel) expressed optimism for BEAM on X. According to Godel, the market has hinted at a breakout ahead. The analyst suggests there would be many upcoming catalysts in the market.
So chances are higher a catalyst ahead could show movements in the second half of this year.
$BEAM / mkt update
Broke a long standing diagonal that has been in effect since March, now confirming
Continues to show glimmers of breakout perf vs mkt on green days – big hint
Outperformed during 1st half of this cycle, expecting a repeat during 2nd half due to many… pic.twitter.com/NwP9tmfgrY
— Gödel 🥃 (@godeLives) August 29, 2024
Per the analyst, if the price crsoses its ATH, it could enter the $0.10 to $0.20 range by 2025 end.Based on the enthusiast’s bold statement on X, if BEAM crypto flies higher, then investors and traders could witness 60-180x multifold gains.
What Developments are Keeping Spirits High for BEAM?
Beam’s gaming work has attracted a lot of attention off late. One of its games, @Fableborne, was a hit under Beam Games; the game had a narrative of protecting your kingdom from the enemy’s raids. That has been a strategy and free-to-play game developed by famous game creators @PixionGames.
The @fableborne team has really impressed with their latest version of the game.
Showing strong metrics, the @BeamGamers are really enjoying themselves, and here’s why:https://t.co/cKScjorA6U
— Beam (@BuildOnBeam) August 30, 2024
A few hours ago, BEAM officially tweeted that their development team for the hit game @fableborne has impressed many with the latest version of the game.
This development, among other factors, has kept BEAM in the top 100. The updates and developments have kept the optimism high.