Will We Get To See Another Spike In BEAM Crypto Price?

• In the last 30 days, the BEAM crypto lost 26.9%.
• BEAM crypto is trading 340% above its all-time low price.

Beam network, a gaming ecosystem powered by the Merit Circle DAO and the $BEAM token. The BEAM is used for paying for transactions, interacting with smart contracts, and participating in governance.

The trading volume of the BEAM crypto has declined by 21.5% in the last 24 hours and the volume/market cap ratio of the BEAM crypto is 3.55%. The market cap dominance of BEAM crypto is 0.05%.

As per Coingecko, the market cap ranking of the BEAM crypto is 77th in the global cryptocurrency market. The crypto is built on the Ethereum platform and uses ERC-20 token standards.

The current circulating supply of the BEAM crypto is 50.277 Billion BEAM and the total supply of the crypto is 62.955 Billion BEAM while the max supply of the crypto is not defined. The fully diluted market cap of the crypto is $1.114 Billion.

BEAM Crypto Derivatives Analysis

As per Coinglass, the long/short ratio for the BEAM crypto is 0.9778 and the derivatives trading volume has declined by 34.5% in the last 24 hours. Moreover, the open interest has also declined by 12.5% resulting in a value of $7.54 Million.

The long liquidation for the BEAM crypto is $12.92K while the short liquidation for the crypto is none which shows the sellers dominance in the crypto price followed by the last 24 hours.

BEAM Crypto Technical Analysis

After trading in a very tight range for more than 200 days, the BEAM crypto price gave a breakout and witnessed a 300% surge from the breakout levels. Further, the crypto witnessed selling pressure from the higher levels and again declined to the breakout levels.

The price has lost its value by more than 50% from its most recent swing high but if it breaks above the last swing high, then one more surge in the BEAM crypto could take it to higher levels.

BEAM/USD Chart by TradingView.com

The indicators on the daily time frame indicate volatility in the trading price of the BEAM crypto. The Bollinger band is trading flat with the price of the crypto revolving around it. 

The 50-Day and the 200-Day EMAs are trading in a golden cross and the price of the crypto is also trading above the EMAs currently taking support at 50-Day EMA.

The MACD lines are trading above the zero level but the MACD line is trading above the signal which indicates bearishness in the crypto momentum. The indicator are forming bearish histograms on the chart.

Summary

The BEAM crypto is facing an uncertain outlook in the future, as the price is fluctuating between the breakout and the swing high levels. The trading volume, market cap, and open interest are also declining, indicating low demand and interest. The indicators are showing mixed signals, with some suggesting a bullish trend and others a bearish one.

Technical Levels

Support Levels: $0.02200 and $0.06400

Resistance Levels: $0.52950 and $0.741100

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.