- BEAM recorded a 3% spike, trading at $0.0083.
- Its daily trading volume has surged by over 83%.
With a 2.07% spike in the crypto industry, the market cap hit $4.03 trillion. The broader market sentiment is greedy as the Fear and Greed Index value is holding at 62. The assets are swinging between red and green charts. Meanwhile, BEAM has displayed a 3.14% increase in price in the past 24 hours.
BEAM opened the day trading at a low of $0.00782. With the sudden bullish encounter, the price has climbed to a high range of $0.008834. As reported by the CMC data, at the time of writing, BEAM trades at around $0.008321. Its market cap is $399 million, with the daily trading volume up by over 83.44%, reaching $42.09 million.
Meanwhile, the last seven-day price chart of BEAM has recorded a steady surge of over 18.87%. The asset began the week trading at around $0.0065, and with the bullish power, the price has risen to a high of $0.0088.
What is Next for BEAM — Bullish Breakout or Bearish Reversal?
The four-hour technical analysis of BEAM exhibits that the Moving Average Convergence Divergence line is one point below the signal line. It implies the bearish momentum, but a possible bullish crossover may occur if the MACD moves above the signal line.
In addition, the Chaikin Money Flow (CMF) indicator is stationed at -0.02, which is slightly negative, hinting at a mild tilt toward the selling pressure in the market. More capital is flowing out than in. Also, the value is very close to neutral, so the BEAM market is almost balanced.
Assuming the asset is losing ground, the price might slip and find its nearby support at around $0.008316. A sturdy downside correction could send the BEAM price down toward the $0.008311 range. A breakdown of this range would trigger more losses with a death cross.
On the upside, if BEAM’s bulls are awake, the immediate resistance might be found at the $0.008326 range. If the asset’s bulls strengthen, it could lead to a bullish correction, and the golden cross would take the price toward a high of $0.008331 or even higher.
BEAM’s daily Relative Strength Index (RSI) at 55.60 is standing in a neutral to slightly bullish zone. There is enough room for upward movement, with no extreme conditions in either direction. Moreover, the Bull Bear Power (BBP) value of 0.000129 suggests the slightest bullish dominance. Notably, the momentum could swing either way.
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