BEAM Crypto Stagnates in Range, But a Surge May Be Approaching

• BEAM price hovers close to the 200-day EMA mark and is stuck in range.
• Only 23% of the holders are in profit, suggesting a rally ahead.

Beam (BEAM) crypto price awaits a bullish breakout that could propel the altcoin out of the consolidation. It was trying to cross the 200-day EMA barrier but faced resistance of around $0.01800.

BEAM crypto price has been in a consolidation phase for the past three months. This month, BEAM price managed to sustain gains above the 20-day EMA mark. It was preparing to surpass the $0.01800 hurdle.

BEAM crypto traded at $0.01671 at press time, noting an intraday rise of over 1.21%. It boasted a market cap of $826.48 Million and has a circulating supply of 51.66 Billion.

BEAM Crypto Price Prediction: Can Bulls Form Their Upper Hand?

BEAM crypto price prediction on a daily time frame indicates a slight range-bound movement.

It has been confronting resistance of around $0.01800 for the past weeks.

In his recent post, Crypto Habibi said that the BEAM crypto price was approaching its grey box zone, close to $0.01800. Once it breaks the zone, an upsurge of 20-25% could be seen in the near term.

$BEAM @BuildOnBeam Grey box is holding well, check in the past what happened once we broke out from that consolidation
This is my Biggest #HOLD in #GameFi & its brewing for 25 to 50X from here
Dont fade Gaming because its not in the lime light now, your chance to accumulate✌️ pic.twitter.com/xchvc8k4sT

— Crypto Habibi (@CryptoHabibi7) October 16, 2024

Per the Fib levels, BEAM crypto stayed around the 38.2% hurdle and is above the Bollinger band. The Relative Strength Index (RSI) was around 53, showing a bullish outlook.

Moreover, the MACD indicator just triggered a bullish crossover. It formed green histogram readings and suggests a positive stance for the short term.

A successful close above the $0.01800 hurdle would permit the bulls to crack the range’ upper end. They may see a short-term bullish rally ahead.

BEAM Investors Are Hoping for a Surge

The Global In/Out of the Money (GIOM) indicator highlighted that around 7.52 Billion BEAM was purchased by investors. The purchase happened between the price range of $0.01200 and $0.01500.

Around 23% of holders are making money at current prices. At the same time, more than 75% of the holders are facing unrealized losses.

These large volumes of purchased tokens were likely to push higher prices. This increased the chances of breaching the 200-day EMA level.

Once this happens, BEAM crypto could see an upswing toward $0.02100 in the short term. According to Messari, the altcoin’s Sharpe Ratio value implies a positive outlook.

Investors have a good chance of getting a higher return on the money. They have a better risk-to-reward ratio now.

The Sharpe ratio was around 0.39 at press time. This means the asset is undervalued and could see a near-term rise.

What Does Futures Market Data Say?

Data from Coinglass indicates that the OI-weighted funding rate stayed positive throughout the week, around 0.0101% at press time. Furthermore, the Open Interest (OI) rose over 2.25% to $12.34 Million. This signaled a prolonged buildup activity over the past 24 hours.

The immediate support zones for BEAM were $0.01500 and $0.01320. On the other hand, the upside levels to watch out were $0.01820 and $0.02000.

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.