Join our Telegram channel to stay up to date on breaking news coverage
Beam price soared 18% in the last 24 hours to trade at $0.0117 at 4:25 am EST, along with a 275% increase in trading volume.
The move saw BEAM hit an all-time high of $0.0127, an intraday high recorded on December 2 before a rapid correction. However, it is still among the biggest daily gainers.
Check out the day's top cryptocurrency gainers
1⃣ $ALCX (@AlquimiaFi)
2⃣ $GFT (@GiftoMetaverse)
3⃣$ BIG (@playbigtime)
4⃣ $DO (@MeritCircle_IO)
5⃣ $NEXT (@ConnextNetwork)
6⃣ $PIVX (@_PIVX)
7⃣ $SC (@SiaFoundation__)
8⃣ $FLR (@FlareNetworks)
9⃣ $lightning… pic.twitter.com/dogzfjLThG-CryptoCrunchApp (@CryptoCrunchApp) December 2, 2023
The surge took many by surprise, denying entry to many traders as it continued to pump strongly.
OK $beam He didn't give me a good input… He just keeps pumping…
Every day I look at the price, bad price… @MeritCircle_IO pic.twitter.com/DGIUJ2nr54
-Nenad9 (@Nenad918) December 2, 2023
Some traders remain optimistic and anticipate further gains for the cryptocurrency, with one trader noting that the token is about to “begin another parabolic leg up.”
– InfiniteDipCrypto (@Crypto_Tadas) December 2, 2023
Beam Price Forecast as BEAM Pumps Hard
Measured from a market range extending from $0.0039 to $0.0128, Beam price sits just above the critical Fibonacci retracement level of 61.85 to $0.0094. However, according to the Relative Strength Index (RSI), BEAM is already overbought at 71. As such, a pullback could be underway, and the altcoin is likely to fall below the 61.8% Fibonacci.
Amid the expected profit-taking, Beam price could decline to test the 9-day EMA at $0.0098, before testing the 50% Fibonacci retracement level at $0.0084. A breakout and close below this level would invalidate the current bullish outlook. This could set the tone for a continuation of the decline, with the altcoin falling below the Parabolic SAR at $0.0080.
In the most severe case, the decline could extend until the price loses the support offered by the 23.6% Fibonacci retracement at $0.0060, or worse.
On the other hand, the price continues to enjoy strong downside support, including the Parabolic SAR and the 9-day EMA. Buying pressure from these potential entry levels could cause Beam price to extrapolate gains, clearing the range high of $0.0128.
In a highly bullish case, Beam price could rise further to reach the local high at $0.0140. Such a measure would constitute a 20% increase above current levels.
Meanwhile, another token, BTCETF, is presented as a promising alternative to BEAM. The project is in the pre-sale stage and has accumulated sales of 2,268 million dollars out of a target of 2,876 million dollars.
Promising alternative to BEAM
BTCETF is the symbol of the bitcoin ETF Token project and is notable for being the only ecosystem that rewards token holders when bitcoin spot exchange-traded funds are approved. With experts anticipating an imminent January launch, now is the time to ride the wave, and what better way to do so than with a project that rewards you just for ownership?
Describing #BitcoinETF: not just an anticipation of the bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin #ETF increase, but a utility #Symbolic!
A quarter of the offer is allocated to incentives, promoting the strength of the network.
Stay tuned for details on the platform for complete transparency! pic.twitter.com/loXeh8JyMQ
– BTCETF_Token (@BTCETF_Token) November 26, 2023
The project is in the seventh stage of pre-sale, and the token is selling for $0.0062. Traders who missed the sixth stage price can take advantage of this stage to buy BTCETF.
#BitcoinETF Stage 7 has begun! pic.twitter.com/dval4GuSME
– BTCETF_Token (@BTCETF_Token) December 2, 2023
The project also has a 5% burn tax that helps reduce the supply of tokens and thus support the price.
#BitcoinETF incorporates a 5% burn tax on each transaction, leading to a gradual reduction in the #Symbolic offer as time progresses.
The plan is to burn 25% of the tokens as specific milestones are achieved with the goal of easing selling pressure. pic.twitter.com/odZwrPDn0D
– BTCETF_Token (@BTCETF_Token) November 27, 2023
Visit bitcoin ETF Token to buy BTCETF in the pre-sale here.
Also read:
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
Join our Telegram channel to stay up to date on breaking news coverage
