BEAM Price Analysis: Could the Buyers Manage to Trigger Breakout from Channel?

MD– Beam price has performed negatively for the past few months, and sellers are dominating. RSI has demonstrated a bullish forecast.

The price of MD– Beam has decreased over the past few months, with sellers maintaining the upper hand. However, the RSI indicator is pointing toward a bullish outlook.

The Beam crypto price has been experiencing weakness over the past few months, with buyers struggling to regain strength. Since March, the price has dropped by 70%, showcasing the dominance of sellers in the market.

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The digital asset price has been declining within a falling channel since March. Buyers have attempted to break through the upper trendline on multiple occasions but have been unsuccessful. At press time, the price had managed to move past the 20-day EMA and was heading toward the 200-day EMA.

After a bearish trend, it appears that the Beam price may have found a bottom and is preparing for a rebound. As per the historical chart, the price breached a major support level at $0.0165.

BEAM Price Analysis

At press time, Beam crypto was trading at $0.0135, and it had risen by 3.33% in the past 24 hours. The circulating supply of BEAM was 49,466,004,168, and the total supply was 62,434,008,330 BEAM.

The market capitalization was $673.00 Million, and the 24-hour trading volume was $15.04 Million at the time of writing. It had a fully diluted market cap of $852.93 Million.

Is Selling Expected in BEAM Crypto Price After the Bounce Back?

According to a source on X, the Beam price may encounter selling pressure around the $0.0180 hurdle. The price has recovered from the lower zone and is now moving into the lower-high territory.

$BEAM CONDITIONAL LONG• Looking for a 1D close above 0.0135 followed by a retest on 4h to enter the trade ( squiggle for reference)Looking to target the sell-side OB at 0.018 if we get the trigger and entry for the trade.Risking 4.75% SL for an 8.8RR trade.#BEAM… pic.twitter.com/JMOwU30KUb

In the lower-high territory, sellers are likely to dominate, and a sharp decline can be anticipated. After being rejected at the $0.0180 hurdle, the price is likely to plummet to the $0.0100 mark.

BEAM Price Technical: Will Buyers Trigger Breakout from Channel?

The technical chart shows that the BEAM crypto price has been declining within a descending channel. The price has reached a critical breakout level and crossed above the 20-day EMA.

Strong buying can be expected if the BEAM price manages to close above the channel and cross the 200-day EMA.

If the breakout occurs with high trading volume, it may amplify the bullish momentum and lead to a substantial price increase for Beam crypto.

Alternatively, if the digital asset price faces resistance at the upper trendline, sellers may attempt to drive the price to a lower low. If the price drops below the $0.0110 level, it would indicate a bearish scenario.

Turning to the technical indicators, the RSI is displaying a bullish divergence, which is a positive sign. The price has crossed above the Base Bollinger Band and is heading toward the Upper Bollinger Band.

Beam Price Prediction

Based on the BEAM crypto price analysis, the market seems to be in a corrective phase. The price has shown signs of a potential rebound, but selling pressure is expected around the $0.0180 hurdle, which could trigger a sharp fall to the $0.0100 mark.

On the technical side, if the BEAM price breaks out from the descending channel and crosses the 200-day EMA with high trading volume, it could signal strong buying momentum and a potential price surge.

This article serves solely as informational content and does not provide financial, investment, or any other type of advice. The author or any individuals mentioned in this article bear no responsibility for any financial losses that may arise from trading or investing. Please conduct thorough research before making any financial decisions.

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