Beam (BEAM) has gained significant buying momentum and is approaching a critical resistance level of $0.01800. The cryptocurrency has formed a double bottom pattern on the daily chart and has crossed the pattern's neckline of $0.01600, indicating a breakout. The BEAM price has surged over 52% since the beginning of the month and is heading towards its critical supply zone of $0.0200. The concentration of large holders is high, indicating that a few entities control a significant portion of the token supply. The recent upsurge in Bitcoin's price has fueled BEAM's upward move, and technical indicators suggest that further gains are possible in the short term. The altcoin's OI-weighted funding rate is positive, showing bullish sentiment among investors.
- Content Editor ( thecoinrepublic.com )
- 2024-09-20
BEAM Price Targets $0.01800 Breakout As Bullish Pattern Emerging