BEAM asset still exhibits bearishness The price structure of BEAM on the daily chart was impressive, and the fight between bulls and bears was intense. By October 20th, 2023, the price had favored bulls from the demand area at $0.025000 and had flown to the $3.00 level by December 3rd, 2023.
However, by December 4th, 2023, the BEAM cryptocurrency had experienced a decline in price after reaching a crucial supply level of about $3.00 on the charts.
After touching the resistance level, BEAM crypto experienced a significant crash, falling to lower levels while following a structure of lower lows.
Similarly, BEAM asset still exhibits bearishness after a significant decline and continues to show signs of falling capacity as it slides below the significant trend in the 20-day and 50-day EMA bands. The decline could deepen further, depending on sellers' surge.
MACD is below the zero line, and the RSI is not close to the 30 level at 31.26, indicating that the BEAM asset is not facing significant buying pressure yet and could continue to fall.
The BEAM coin asset is showing bearish signs and could continue to decline. Results from the previous week, month, and quarter showed a steady downward movement of -10.83%, -31.25%, and -20.83%, respectively.
As of now, the price is trading at $0.07521 with an intraday increase of 0.78%. Therefore, if the price breaks the immediate critical support level of $0.06300, it will reach lower levels. However, if the price recovers and breaks the above resistances, the BEAM price targets would be $0.13000 and $0.16000.
