BEAM Price Prediction: Increased User Engagement Could Trigger A Breakout

Investor sentiments have been shifting on the bullish side as Bitcoin proceeded to reclaim the psychological $60K mark. As a result, many altcoins

Beam (CRYPTO: BEAM) crypto showed strength on Monday as investors remained optimistic about the token’s prospects.

What Happened: BEAM price was trading at $0.134 with a gain of 0.62% over the last 24 hours. The crypto was up 17.9% over the past seven days.

BEAM price had risen 2,023.6% from its 52-week low of $0.005 and was down 96.1% from its 52-week high of $0.35.

The apex cryptocurrency was priced at $59,643 with a gain of 0.07% over 24 hours.

Why It Matters: BEAM price showed strength on Monday and was looking forward to breaking out of a trendline resistance.

The trendline, which had acted as supply in recent weeks, was now offering resistance to the token’s price.

A sustained breakout above the trendline was crucial for a trend shift on the positive side.

Active addresses reflect the number of users who participated in any transaction over a given period. It was calculated on a 24-hour basis and 7-day basis.

As evident from the chart, the 24-hour as well as 7-day active address curves were in an uptrend.

This indicated growth in the number of users. The 24-hour active addresses were 130, which jumped to 315; the 7-day active address, 1180, has now increased to 1309.

Moreover, the transaction volume had surged by 74.8% a day, indicating heightened demand.

The daily transaction volume was $699.2 Million.

Price Action in Beam crypto showed a gain of 3.06% over the past 30 days.