Monthly Technical Analysis: BEAM ($0.07450)
Recent Price Action:
Current Price: BEAM is trading at $0.07450, recovering strongly from a low of $0.02374.
Market Structure Shift (MSS): A bullish reversal is evident with a three-candle swing breaking the previous bearish trend.
Key Observations:
Volume Surge: Increased trading volume supports the upward movement, indicating strong market participation.
Liquidity Pool & Equal Highs: Price tapped into a liquidity pool, forming equal highs—a sign of potential bullish continuation.
Order Block Respect: The price retraced to a key Point of Interest (POI), tested the order block, and bounced, confirming support.
Projection:
Buy-Side Liquidity Targets:
First Target: $1.31120 (Potential Gain: +1,658%).
Second Target: All-Time High (ATH) at $2.07720 (Potential Gain: +2,680%).
The current price action suggests a long-term bullish trajectory, contingent on maintaining key support levels.
Accumulation Opportunity:
Retracements: Any pullback into strong support zones, such as the tested order block, could present favorable accumulation opportunities.
Risk Considerations:
While the projected gains are significant, traders should be mindful of:
Market volatility and global conditions affecting small-cap altcoins.
The need for volume confirmation to sustain upward momentum.
Strategy Suggestions:
Short-Term Traders: Monitor for a breakout above equal highs, confirming bullish intent.
Long-Term Holders: Accumulate during retracements into tested support zones for potential long-term gains.
Risk Management: Employ stop-loss strategies below the tested order block to mitigate downside risk.
