BEERCOIN Price Forecast: Can BEER Crash Near All time Low? BEERCOIN Price Forecast: Can BEER Crash Near All time Low?
BEERCOIN price crashed nearly 68.04% a week from the all-time high value of $0.00057.
The BEER crypto was currently 120.27% higher than its All time low of $0.000082 recorded on 27th May.
BEERCOIN price crashed heavily in the recent sessions from its All time high value. The price dropped over 68.05% in the last week indicating a strong selling pressure.
Since its launch on May 27th, the BEERCOIN showed an impressive bull run rising over 700% in a span of three weeks. However, the price topped out near $0.00057 and slumped over 68% a week.
At the time of writing, the BEER crypto was trading close to $0.000178 recording a negative intraday development of 4.44%. with a live market capitalization of $97.84 million, it ranks 424th in the overall crypto market.
BEERCOIN: Volume & Volatility Analysis.
The BEER crypto saw significant ups and downs in less than a month, since its launch. The price maintained a strong bull run rising over 700%, then falling over 68% in the recent week.
The volume analysis reveals that the transaction volume was higher in the last week when the price started to fall. It might be due to a profit booking after a short term gain.
while the transaction volume dropped drastically in the recent sessions indicating the losing interest of the bears. The decline in the transaction volume may result in the slowdown in the momentum of BEER crypto.
The intraday volume received was $159.89 Million with a drop of 5% as compared to the previous day. Out of total 888.88 Billion BEER tokens, nearly 549.76 Billion tokens are currently in circulation.
Will BEER Hold At Support or Loom Towards All Time Low?
The BEERCOIN price seems to be stabilizing near the recent support of $0.00015 after a sharp fall in the last week. It might be the last defending zone for the bulls before the price heads towards the all time low of $0.0000825.
As per the daily chart, the recent supply lies at the $0.000318 whereas the recent demand lies near the $0.000178. The price may show indecisiveness and sideways until it is maintained in the range.
If the selling pressure exceeds again and the price breaks below the $0.000178, then it may crash towards the All time low value of $0.000082. whereas, if the bulls make a comeback and the price surpasses $0.00030, it may indicate a bullish reversal and the price may resume its way towards the higher levels.
Conclusion.
BEERCOIN experienced a significant drop, losing over 68% from its peak, indicating strong selling pressure. After a 700% rally in just 3 weeks since its launch, the crypto seemed to be heading down for a profit booking. It has a live market cap of $97.84 million, ranking it 424th in the cryptoverse.
Moreover, the recent volume declines hint at waning bear interest, potentially slowing momentum. Currently, 549.76 billion tokens are in circulation out of 888.88 billion. Currently, BEERCOIN price seems to be stabilizing near $0.00015 support, with potential to fall to all-time lows if the selling pressure resumes.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
BEERUSDT trade ideas
Looking at the price structure of BEERCOIN (BEER)Where Out of the 5 altcoins, BEERCOIN(BEER) stands out in terms of market cap, as BEERCOIN has the most market capitalization and 24-hour trading volume. Its market value stands at $253.81 Million, and its trading volume is $118.8 Million. There are 549.76 Billion BEER in circulation and has a tremendous liquidity as the 24-hour volume-to-market ratio signifies a massive number that stands at 54.55%. Since, the higher ratio highlights the more liquid the asset is, which could make it easier for it to be bought and sold by investors and traders.
The BEER has become sideways after an astonishing nearly 900% gain from the start to June 5th, 2024, thereon the bEER had been in a battle between bulls and bears and looks like heavy volatility in the BEER making it consolidate between $0.000325, and $0.000570.
Looking at the price structure of BEERCOIN (BEER), the price has flew outstanding, the investors and traders have put a lot of liquid mmoney into this ALtcoin, which has been proved by CMC volume to market ratio.
At press time, the price of BEER surged by 6.08% with the price traded at $0.000448. Therefore, if the bears take control then on the downside the price has to breach $0.000325 first, then the price could degrade.
However, if the price manages to sustain and rise, the price has to jump out of the swing high it developed at $0.000570 price level.
