For the past few days, BEAM coin has been moving upwards. The coin has been performing in a bullish pattern. With the growth trend, investors are buzzing with anticipation of a possible $0.0274 mark.
Now, the big question is, will BEAM keep soaring high with more buyers joining the race? Or is a pullback correction coming soon from profit-taking investors?
Let’s check the possibilities below.
Beam Recent Price Movement
BEAM underwent a bullish rally during the past two months amidst crypto volatility. The price rallied to a high of $0.0274 on December 13, 2023, representing an increase of over 550% from a low of $0.004 on November 06.
Unfortunately, this price increase was short-lived as people started to take out some profits.
After declining from highs near $0.03 in late 2023 to under $0.0135 by January 2024, BEAM staged a furious recovery back to $0.022, a 62% spike within a few days. BEAM’s parabolic move aligned with broader industry hype around the Bitcoin ETF listing. However, the vertical rally proved unsustainable.
BEAM quickly erased some of its gains again and returned to $0.0172 just days later as excitement faded. Still, BEAM discovered a new support level following the correction, consolidating between $0.172 and $0.018 for a few days.
This level triggered a bullish sentiment in the market and a BEAM rally. At the moment, Beam ($BEAM) is trading at $0.02268 with a volume of more than $70 million.
According to CoinMarketCap, in the past 24 hours, the coin has recorded an increase of 8.76%. Even in the last week, it has gained more than 20%.
Despite the price volatility and slight drop, it’s up 24% over the past month.
Beam Price Analysis: A Breakout Scenario with Key Resistance Ahead
BEAM currently trades above the upper band of its Bollinger Bands indicator. Usually, when a coin breaks out above the bands, it signals increased volatility and upside momentum. Presently, BEAM aims to retest its previous resistance around $0.02774.
Sustaining this bullish trajectory depends on buyers’ ability to maintain control as BEAM approaches this hurdle. However, if momentum falters, BEAM risks slipping back inside the Bollinger Bands. This would paint a bearish picture of a fading rally.
Further pullbacks could unfold if BEAM closes back below the bands. If the price falls, we should keep an eye on levels around $0.0172 and $0.0076. On the positive side, BEAM’s RSI reading has surged to 61.
This means BEAM bounced sharply from oversold levels below 30.
The rapid rise in RSI reflects a heavily strengthening upside momentum. Overall, while BEAM is breaking out, sustaining the uptrend matters most. Keeping gains intact above the upper Bollinger Band and previous resistances would validate the rally’s durability.
The @ExosamaNFT collection ✨
Did you know the Exosama community is coming to @BuildOnBeam with their latest release @DremicaOfficial
It’s all because of @DonnieBigBags who’s a long-time supporter of the DAO 🟠https://t.co/r8Gx9K4GsE pic.twitter.com/sIr7W8kcRM
— Merit Circle (@MeritCircle_IO) January 16, 2024
Recently, there has been a positive announcement in the Beam’s community. The Exosama community is bringing their latest release, Dremica, to Beam.
According to the post, this is all thanks to the strong support of a dedicated backer of the DAO, DonnieBigBags. This announcement was shared on the X platform on January 16, and it has notable significance for BEAM’s price.
DonnieBigBags’ long-standing support suggests confidence and loyalty to the project. As a prominent figure in the community, his endorsement can attract attention from other investors. Of course, when more people show interest in BEAM, demand tends to rise, potentially influencing an uptick in the coin’s value.
Beam Potential Alternative – Sponge V2, Next 100x Coin
Visit Sponge V2 Presale
Sponge V2 stands out as a strong contender ready to shake the entire market. Sponge V2, the new and improved version of the well-known meme coin Sponge (SPONGE), wants to continue the success of the first one.
The original SPONGE became really popular in 2023 and quickly reached a $100 million market value.
As such, many early buyers made huge returns on their investments. Now, Sponge V2 is planning to make things even better by adding features like staking rewards and play-to-earn options. This makes the Sponge system more valuable and exciting for people using it.
Can Sponge V2 Match the Success of Its Predecessor?
After the 100X surge of V1, #SpongeV2 is poised for even greater heights! 🌟
Stake now for 40% + APY! 🚀#AltSeason #MemeCoin #Approved pic.twitter.com/G6w49dODEc
— $SPONGE (@spongeoneth) January 17, 2024
Sponge V2 is now in its presale phase, and it is offering early investors a chance to get the token before the official launch. The price ($0.000824) right now is very cheap for anyone to afford without stress. Further, early adopters stand to gain lucrative stake rewards.
Not only that, but the project has gained attention from crypto experts and top publications, and this adds credibility. Following the success of Sponge V1, Sponge V2 expects insane growth. Past presales have led to substantial market gains.
The current positive mood in the crypto market suggests Sponge V2 might have a similar path. Sponge V2 has 150 billion tokens distributed for play-to-earn incentives, game development, marketing, staking rewards, bridged SPONGE tokens, and CEX liquidity.
Their play-to-earn game comes in free and premium versions. It lets players earn SPONGEV2 tokens and climb the leaderboard. With these unique features, Sponge V2 aims to outperform other meme tokens like Pepe.
To be part of this project now, visit the official page and buy the token with ETH, USDT, or Card.
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