Why does an Analyst believe BEAM Could Propel More Than 100x In

Aug 30

In the year-to-date (YTD) span, the BEAM token price had displayed a a pronounced downtrend, with a steady decline over the past few months on the daily chart. The downward channel was formulated as a result illustrated by the development of a consistent lower-low spree.

Inside that channel, the BEAM price advanced by over 50% from lower to higher borders this month. At the higher border, it has breached the dynamic resistance of the 20-day EMA and the upper border. This week, a key level halted the breakout, and the price is now forming a pullback in the 4-hourly chart. The $0.0169 acts as a Change of Character (CHoCH) point, if surpassed it would reach the next target of $0.0202.

However, in the event of a price resurgence, on the daily chart, the CHoCH level stands at $0.0202. When surpassed, the next month's targets could be $0.0233 and $0.0300, respectively.

At the present time of writing, the BEAM price traded at the $0.01519 level. Recent price actions reinforced the bullish outlook as the BEAM price action suggested a surged likelihood of continued northward momentum.

Additionally, the crypto enthusiast godeLives (Godel) on X stated optimism in BEAM price, as he believes that the market has been giving hints of a breakout ahead. He believes there are many catalysts in the market that could act as a catalyst and show movements in the second half of this year.

The analyst believes that if the price gets above its all-time high since launch. Then the price could most likely achieve $0.10 to $0.30 level this cycle, which could be by the 2025 year-end that has a higher probability. based on the enthusiast's bold statement on X post, if BEAM flies higher, then investors and traders could witness 60-180x multifold gains.