🔍 BEAMX/USDT analysis on Binance $BEAMX

The current daily timeframe chart for BEAMX/USDT shows the formation of a rather interesting technical picture. Let's consider the key levels, indicators and prospects for price movement in the near future. 🐕‍🦺🐕‍🦺

1. Current price:

BEAMX is trading at 0.01924 USDT, showing a weak upward trend (+1.16%) after a long decline in the previous months.

2. Key indicators:

  • Moving Averages (MA):

    • MA (7) is at 0.01832, which is slightly below the current price, indicating short-term support and a possible move higher.

    • MA (25) at 0.01554 and MA (99) at 0.01534 are also below the price, demonstrating the formation of a medium-term upward trend.

  • SAR (Parabolic Stop and Reverse):
    Parabolic SAR at level0.01745confirms that the upward movement remains relevant at the moment.

  • Ichimoku indicator:
    The current price has broken through the Ichimoku cloud, which is at the level0.01807, confirming the bullish sentiment. This could indicate continued growth in the short term.

  • Bollinger Bands (BB):
    BB range with borders at level0.02014(upper) and0.01252(lower) indicates an expansion of volatility. Since the price is closer to the upper border, this indicates possible resistance in the near future.

3. Support and resistance levels:

  • Support:
    In the area0.015 — 0.016 USDTthere is a key zone from which the price has bounced several times. This is a strong support that can keep the price from falling further.

  • Resistance:
    Level 0.02014— the first serious target for the bulls. Breaking this level will open the way to the next resistance zone at0.03 USDT, where profit taking and a decline in activity were previously observed.

4. Potential scenarios:

  • Bullish scenario:
    If the current growth momentum continues, BEAMX may test the upper resistance boundary at0.02014 USDTwith the further goal of growth to0.03 USDTThis corresponds to an increase of almost100%(99.94%) of the current level. 🐕💹

  • Bearish scenario:
    If the price goes down0.01807 USDT(Ichimoku cloud), then a move towards strong support at the level is likely0.015 USDT, which could lead to a further fall and retest of the area.0.0125.

Conclusion:

At the moment, BEAMX/USDT is showing positive signs of recovery after a long period of declines. Technical indicators confirm the possibility of further growth, but for a confident continuation of the bullish trend, it is necessary to overcome the resistance at 0.02014 USDT. Investors should closely monitor this level and manage risks.

🚀 Be prepared for sudden movements!

#cryptousdua