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Cryptocurrency News Articles

BEAM Crypto Could Propel Over 100x in 2025, Here's Why

Aug 31, 2024 at 07:33 pm

BEAM crypto price advanced by over 50% from lower to higher borders this month. At the higher border, it has breached the dynamic resistance

BEAM Crypto Could Propel Over 100x in 2025, Here's Why

After a prolonged downtrend in 2024, crypto enthusiasts are keeping a close watch on BEAM crypto. Despite hitting an all-time low in August, the token has shown signs of recovery with a market cap of $754.67 Million.

Now ranked 78th among the top 100 cryptocurrencies by market cap, according to CoinMarketCap, BEAM crypto has seen a 18% surge in 24-hour spot volume to $13.99 Million.

However, despite being in the top 100, BEAM crypto is lacking in long-term holders, with traders and cruisers being more active in the market. Whale holdings are at 70.25% of the most floating supply assets.

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.

Within that channel, the BEAM crypto price advanced by over 50% from lower to higher borders this month. At the higher border, it 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 updateBroke a long standing diagonal that has been in effect since March, now confirmingContinues to show glimmers of breakout perf vs mkt on green days – big hintOutperformed during 1st half of this cycle, expecting a repeat during 2nd half due to many… pic.twitter.com/NwP9tmfgrY

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

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.

Original source:thecoinrepublic

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