$BEAMX /USDT Technical Analysis and Trade Signal
Current Price: $0.02838
Trend: Bearish (based on the current 24-hour drop of -0.80%)
Support Levels:
First support: $0.02673
Second support: $0.02664
Resistance Levels:
First resistance: $0.02871
Second resistance: $0.02859
Momentum: The price has been consolidating with a slight bearish trend, with selling pressure seen at the resistance level. Trading volume of BEAMX (305.84M) indicates that market participants are actively trading, though the overall momentum is somewhat neutral to bearish in the short term.
Trade Signal
Signal: Sell (if price fails to break above resistance at $0.02859)
Target Levels:
1. Target 1 (Short-term): $0.02700 (Support test)
2. Target 2 (Medium-term): $0.02650 (Strong support zone)
3. Target 3 (Long-term): $0.02500 (Potential deeper pullback)
Recommendation:
Entry Point: Consider entering a short position near $0.02850 - $0.02860 if the price struggles to move higher.
Exit/Stop-loss: Exit or stop-loss if the price breaks above $0.02871, confirming a potential bullish move.
In summary, the market is showing bearish momentum. A short position is suggested with target levels at $0.02700, $0.02650, and $0.02500.