Beam has formed a double bottom pattern on the daily charts, and if the crypto succeeds in forming the pattern, it is expected to take it towards 0.029, a 100% gain from current levels.
Beam is in a bullish mode and might soon achieve the 2024 targets because of a strong RSI, MACD crossover, and a fundamental reason for growing crypto gaming demand.
What is Beam Crypto?
Beam is a layer-1 gaming blockchain supported by the Merit Circle DAO. The blockchain provides high scalability and solid infrastructure to support even the most computing-intensive blockchain games.
Here is a small introduction from Beam.
Beam Fundamental Analysis
Being a gaming blockchain, Beam’s growth has been intrinsically linked to the blockchain gaming space, which has crashed by about 90% to 95% since 2021. Some blockchain gaming giants that suffer are Decentraland, Axie Infinity, Gods Unchained, etc.
However, there has been a revival in the market lately with new memecoins using tap and earn blockchain-based games to lure customers. A couple of new examples are Blum Crypto and Dogs.
Technical Analysis
Beam had been moving in a downtrend since March this year, like most of the market. After reaching an all-time high of $0.044 on March 10, the crypto has crashed to one-third of its ATH.
However, as the crypto markets are expected to see a revival later this year, Beam is expected to regain its lost price levels soon. Further, the crypto has already been in an uptrend since 06 September despite highly volatile and bearish markets.
Beam is currently being supported by three strongly bullish factors that have been pumping the crypto this month.
The first reason for bullishness in Beam is its 1-Day charts which show three reasons to be bullish. Beam has seen the formation of a double bottom at $0.011 levels. This pattern is expected to be completed by 25 September and could take Beam towards $0.029.
The second reason for bullishness in Beam is its RSI, which has been gradually increasing and reached 55.3 at press time. Gradual increase in RSI often indicates slow but continuous demand for the crypto.
The third factor contributing to the bullishness in Beam is its MACD, which is already in a positive crossover zone. The MACD crossed on 11 September and proved to be critical in continuing the uptrend in Beam despite bearishness in the wider markets.
Take a look at Mantra (OM), another super-bullish crypto with 6500% gains in one year.
BEAM Price Prediction
In the short term, we expect Beam to reach its ATH of $0.044. In the long term(by 2030), Beam might reach a price of $0.06 to $0.1.
Price Prediction 2024
Beam might reconquer its lost price level of $0.029 by the end of 2024 based on chart patterns and the expectation of recovery rallies in the wider markets.
Price Prediction 2025
With the alt season, Beam is expected to grow to a new ATH in 2025. The price could cross $0.044 if the markets remain bullish.
Price Prediction 2026
As the alt season peaks, Beam might see a stagnant price. Our best estimate puts it between $0.035 and $0.050 by the end of the year.
Price Prediction 2027
The year 2027 might bring fresh corrections to the crypto market due to the usual 4-year bull-bear cycle.
Price Prediction 2028
As 2028 sees yet another Bitcoin Halving and a widespread market rally, we expect Beam to gain a price of $0.06 by the end of the year.
Price Prediction 2029
Beam could reach $0.060 to $0.075 levels by the end of the year, riding on a post-halving alt-season.
Price Prediction 2030
The long-term price prediction in Beam is subject to growth in the blockchain gaming space, which has been estimated to grow at a rate of 21.8% from $154.5 billion to $615 billion by 2030.
Using the same growth proportion, we expect Beam to reach $0.06 to $0.1 by the end of 2030.
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