BEAM Price Looks Extremely Bullish

$BEAM is looking extremely bullish here.

The Beam price analysis suggests that the digital asset has been on a bearish trend since March. The price has been falling by forming lower lows and lower highs. As a result of the continuous selling pressure, the asset price has failed to surpass the key moving averages.

The Beam crypto price has taken support near the $0.0200 hurdle and has bounced back strongly. The digital asset price has gained 35% in the last 10 days, demonstrating the buyers’ strength.

After pulling back from the mentioned support level, the Beam price has formed a lower high, but the price has failed to decline further. It has triggered a pullback after taking support on the key moving averages.

If the digital asset price manages to surpass the last swing high, and the trading volume increases, then it may gain bullish momentum. Assuming the chart structure attracts investors, it may turn into a trend reversal.

On the other hand, if the Beam crypto price slips below the key moving average, the price may keep falling.

According to the technical indicators, the Beam price is trading over the key moving average showcases the bullish forecast. MACD has formed green histograms, and a bullish crossover has been observed between the EMA and the signal line. Overall, the technical indicators are favoring bullish momentum.

Beam Price Looks Extremely Bullish$BEAM is looking extremely bullish here. pic.twitter.com/WTHyuve05B

A source on ‘X’ said the Beam price is highly bullish. On a 3-D time frame, the Beam crypto price has triggered a pullback and is ready to shoot up. The price has taken support on the $0.0200 hurdle and has gained strong bullish momentum.

Is Price Not Correlating With Volume?

The trading volume has decreased for the past few weeks, but the Beam crypto price has increased by 6.75%. Moreover, the trading volume does not support the recent buying momentum, so we need to be concerned about the buying position.

Conclusion

Based on the Beam crypto price analysis, it appears that the digital asset is currently exhibiting bullish momentum. The recent price increase, the support near the $0.0200 hurdle, and the favorable chart structure suggest the potential for a bullish trend reversal. However, it’s important to note that the buying momentum needs to be fully supported by the trading volume, which may raise concerns for the buying position.

Technical Levels

Based on the technical chart, the Beam price may face resistance from the $0.0330 and $0.0400 in the upcoming trading session. The BEAM price may take support on the $0.0210 and $0.0250 levels.