BEAM Price Analysis: Will BEAM Turn Bullish?

On a wider time frame, BEAM has performed negatively but buyers have dominated in the short term. The price formed a hammer candlestick pattern on the bottom which resulted in strong buying pressure.

Beam crypto price has shown strength in the short term, with buyers dominating the market. The price has surpassed the 20-day EMA and is showing signs of bullish momentum.

On a wider time frame, however, BEAM has performed negatively but buyers have dominated in the short term. The price formed a hammer candlestick pattern at the bottom, which resulted in strong buying pressure.

Beam price has surpassed the 20-day EMA and has extended to the last swing high. Since March, the digital asset price has declined by forming lower lows and lower highs. At press time, BEAM had reached a lower-high.

At press time, the crypto was trading at $0.0179. It was neutral in the last 24 hours. The market capitalization was $892.74 Million and the 24-hour trading volume was $15.11 Million. Circulating supply is 49.46 Billion BEAM and the fully diluted market cap was $1.12 Billion.

RSI is 55, taking support on the RSI-based moving average. It is heading toward the overbought zone. The indicator had displayed a bullish divergence which is a sign of bullishness.

Will BEAM Price Rebound or Drop Further?

On a daily time frame, BEAM has displayed weakness but buyers have showed interest in the short term. If the price manages to surpass the crucial level of $0.0200, buyers might lead the trend.

According to the chart, the Beam crypto price has been in a bearish trend. However, a short-term pullback may attract new sellers. If the asset forms a bearish candlestick in the lower-low territory, it would favor the sellers.

Turning to the technical indicators, BEAM price had exceeded the 20-day EMA which supports a bullish forecast. MACD developed a crossover with the signal line while the histograms turned green.

Technical Analysis (4-H Timeframe)

In a 4-H time frame, BEAM price had risen by taking a pullback. The price was facing resistance from the $0.0185 mark at the time of writing. If the buyers bounce back, this fall may turn into a pullback and it would gain bullish momentum.

On the other hand, if the buyers fail to bounce back, profit booking would ensue. Assuming the digital asset price starts trading below the key moving averages, sellers may dominate further and the price might continue to fall.

Will BEAM Turn Bullish?

BEAM crypto price has shown strength in the short term, with buyers dominating the market. The price has surpassed the 20-day EMA and is showing signs of bullish momentum.

However, the wider time frame indicates a bearish trend, and there is a possibility of a short-term pullback. It is important to monitor the crucial level of $0.0200 as a potential turning point.

Technical indicators, such as the MACD and RSI, suggest a bullish forecast in the short term. In the 4-hour timeframe, the price has faced resistance at $0.0185, and a bounce back from buyers could lead to further bullish momentum.

Beam crypto price is expected to take support at $$0.0150 and $0.0130 levels. The bullish trend might get interrupted from the $0.0180 and $0.0235 mark.

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.

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