Join Our Telegram channel to stay up to date on breaking news coverage
The Beam price soared 18% in the last 24 hours to trade for $0.0117 as of 4:25 A.M. EST, alongside a 275% surge in trading volume.
The move saw BEAM hit an all-time high of $0.0127, an intra-day high recorded on December 2 before a quick correction. Nevertheless, it remains among the biggest daily gainers.
Check Out the Top Crypto Gainers of the Day📈🚀
1️⃣ $ALCX (@AlchemixFi)
2️⃣ $GFT (@GiftoMetaverse)
3️⃣ $BIGTIME (@playbigtime)
4️⃣ $BEAM (@MeritCircle_IO)
5️⃣ $NEXT (@ConnextNetwork)
6️⃣ $PIVX (@_PIVX)
7️⃣ $SC (@Sia__Foundation)
8️⃣ $FLR (@FlareNetworks)
9️⃣ $RAY… pic.twitter.com/dogzfjLThG— CryptoCrunchApp (@CryptoCrunchApp) December 2, 2023
The surge caught many off guard, denying many traders an entry as it continued to pump hard.
Ok $beam didn’t give me good entry… It just keep pumping..
Every day i check price, bad price… @MeritCircle_IO pic.twitter.com/DGIUJ2nr54
— Nenad9 (@Nenad918) December 2, 2023
Some traders remain optimistic, anticipating more gains for the cryptocurrency, with one trader observing that the token is about to “start another parabolic leg higher.”
👀 $beam https://t.co/v4SfGxFGDP
— InfiniteDipCrypto (@Crypto_Tadas) December 2, 2023
Beam Price Prognosis As BEAM Pumps Hard
Measured from a market range stretching from $0.0039 to $0.0128, Beam price is sitting right above the critical Fibonacci retracement level of 61.85 at $0.0094. However, based on the Relative Strength Index (RSI) BEAM is already overbought at 71. As such, a pullback could be underway, with the altcoin likely to break below the 61.8% Fibonacci.
Amid expected profit taking, Beam price could descend to test the 9-day Exponential Moving Average (EMA) at $0.0098, before testing the 50% Fibonacci retracement level at $0.0084. A break and close below this level would invalidate the current bullish outlook. This could set the tone for a continuation of the slump, with the altcoin slipping below the Parabolic SAR at $0.0080.
In the dire case, the slump could extend for the price to lose the support offered by the 23.6% Fibonacci retracement at $0.0060, or worse.
On the flipside, the price continues to enjoy strong support downward, including the Parabolic SAR and the 9-day EMA. Buying pressure from these potential entry levels could see Beam price extrapolate the gains, clearing the range high of $0.0128.
In a highly bullish case, Beam price could reach higher to hit the local top at $0.0140. Such a move would constitute a 20% climb above current levels.
Meanwhile, another token, BTCETF, is presenting as a promising alternative to BEAM. The project is in the presale stage, and has racked up sales of $2.268 million out of a target of $2.876 million.
Promising Alternative To BEAM
BTCETF is the ticker for the Bitcoin ETF Token project, standing out for being the only ecosystem that rewards token holders when spot Bitcoin exchange-traded funds are approved. With experts anticipating an imminent launch in January, now is the time to ride the wave, and what better way to do it than with a project that rewards you just for ownership?
Describing #BitcoinETF: not just an anticipation for the #Bitcoin #ETF surge, but a utility #Token! 🚀
A quarter of the supply is set for incentives, promoting network strength.
Stay tuned for details on the platform for full transparency! pic.twitter.com/loXeh8JyMQ
— BTCETF_Token (@BTCETF_Token) November 26, 2023
The project is in the seventh stage of the presale, with the token selling for $0.0062. Traders who missed the sixth stage price can take advantage of this stage to buy BTCETF.
#BitcoinETF Stage 7 has started! 🎊 pic.twitter.com/dval4GuSME
— BTCETF_Token (@BTCETF_Token) December 2, 2023
The project also has a 5% burn tax that helps reduce the token supply and thus support the price.
#BitcoinETF incorporates a 5% burn tax on every transaction, leading to a gradual reduction in the #Token supply as time progresses.
The plan is to burn 25% of the tokens as specific milestones are achieved aiming to alleviate selling pressure. 🚀 pic.twitter.com/odZwrPDn0D
— BTCETF_Token (@BTCETF_Token) November 27, 2023
Visit Bitcoin ETF Token to buy BTCETF in the presale here.
Also Read:
New Crypto Mining Platform – Bitcoin Minetrix
- Audited By Coinsult
- Decentralized, Secure Cloud Mining
- Earn Free Bitcoin Daily
- Native Token On Presale Now – BTCMTX
- Staking Rewards – Over 100% APY
Join Our Telegram channel to stay up to date on breaking news coverage
Credit: Source link
