Current Momentum: BEAM price is showing signs of a bullish reversal, currently trading at $0.02187 with a significant 15% intraday increase.
Key Developments: Recent price action hints at a potential breakout rally beyond $0.024, following a bounce back from the 38.20% Fibonacci retracement level.
Market Dynamics: The price jump comes amid a broader market pullback, indicating heightened interest from traders.
Technical Analysis:
MACD Indicator: A potential bullish crossover suggests a trend reversal, aligning with the current uptrend.
RSI Indicator: The RSI line moving above the halfway mark supports the bullish trend continuation.
Price Outlook: A successful break beyond $0.024 could pave the way for BEAM to target $0.030.
Volume Support: The increase in trading volume backs the recovery trend, adding credibility to the potential uptrend.
Potential Targets: Following the Fibonacci extension level, the price might aim for $0.030, with a stretch target at $0.035 in a high momentum scenario.
Risk Factors: A downturn below $0.020 could trigger a bearish sentiment, leading to a retest of lower support levels.
Key Developments: Recent price action hints at a potential breakout rally beyond $0.024, following a bounce back from the 38.20% Fibonacci retracement level.
Market Dynamics: The price jump comes amid a broader market pullback, indicating heightened interest from traders.
Technical Analysis:
MACD Indicator: A potential bullish crossover suggests a trend reversal, aligning with the current uptrend.
RSI Indicator: The RSI line moving above the halfway mark supports the bullish trend continuation.
Price Outlook: A successful break beyond $0.024 could pave the way for BEAM to target $0.030.
Volume Support: The increase in trading volume backs the recovery trend, adding credibility to the potential uptrend.
Potential Targets: Following the Fibonacci extension level, the price might aim for $0.030, with a stretch target at $0.035 in a high momentum scenario.
Risk Factors: A downturn below $0.020 could trigger a bearish sentiment, leading to a retest of lower support levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.