Price Analysis

Beam (BEAM) Technical Analysis 2021 for Crypto Traders

In Beam (BEAM) Technical Analysis 2021, we use past statistics, price patterns, RSI, and much other information about DOT to analyze the future movement of the cryptocurrency. 

BEAM is a confidential decentralized finance (DeFi) platform that runs on a combination of two blockchain protocols. In the early years of the industry, transactions with public-blockchain cryptocurrencies like Bitcoin (BTC) were thought to be untraceable. With developments in blockchain analysis, it became clear that transactions can actually be traced back to the senders, posing a great threat to users’ privacy.

Beam (BEAM) Current Market Status

According to CoinGecko, the Beam (BEAM) price is trading at $0.829 with a 24-hour trading volume of $93,545,471, at the time of writing. However, BEAM has decreased by 8.49% in the last 24 hours.

Moreover, BEAM has a circulating supply of 88,865,200 BEAM. Currently, BEAM trades in Binance, BitForex, BitZ, XT.COM, and BHEX (BlueHelix Exchange).

Beam (BEAM) Technical Analysis 2021 

The recent development and upgrades might push Beam (BEAM) to reach new heights. Now, let’s deep dive into the Beam technical analysis 2021. 

BEAM holds the 373rd position on CoinMarketCap right now. The monthly time frame chart of Beam (BEAM) is shown below.

BEAM/USDT Price Chart Showing Flag Pattern (Source: TradingView)

The above chart shows the bullish flag pattern. Moreover, a flag chart pattern is formed when the market consolidates in a narrow range after a sharp move. Usually a breakout from the flag is in the form of continuation of the previous trend. Flags give very high risk reward ratio which indicates relatively small risk and high and quick profits

Beam (BEAM) RSI, MACD, and MA

The below chart shows the Moving Average Convergence/Divergence (MACD) of BEAM. Notably, the MACD (blue) continues to stay just below the signal indicator (orange line).  This means that cryptocurrency traders can still expect more bullish days ahead. 

In contrast, if the MACD begins to move above the signal indicator and performs a bullish crossover. Then the crypto has a high possibility of reaching new highs.

BEAM RSI and MACD (Source: TradingView)

Now let’s look at the relative strength index (RSI) of BEAM. As shown in the chart above, the RSI remains at level 42. This shows that BEAM’s price is in a nearly oversold state. However, this gives confidence for the traders to trade without any fear.

BEAM’s Moving Average (MA) and Exponential Moving Average (EMA) is shown in the chart below. Moreover, MA is a part of technical analysis that helps traders to recognize trends. While EMA is a type of moving average.

BEAM 30-day SMA and 50-day EMA (Source: TradingView)

From the beginning of 2021, it is clear that the BEAM price has shown many bullish patterns. Furthermore, taking all these into account, BEAM could have a competitive market in 2021.

Conclusion

With the ongoing developments and upgrades that are taking place within the BEAM platform. The cryptocurrency BEAM has a fantastic future ahead in this crypto market. However, it is possible to see  BEAM reaching new heights.

Bullish BEAM price prediction 2021 is $3. As said above, it may reach great heights, however reaching $10 if investors have decided that BEAM is a good investment in 2021.

FAQ

What is BEAM?

Beam Mimblewimble is a scalable, fungible, and confidential digital asset based on the Mimlewimble implementation. BEAM is its native token.

Where can you purchase BEAM?

BEAM is listed on many crypto exchanges that include Binance, BitForex, BitZ, XT.COM, and BHEX. In which the crypto is available to be traded against fiat currencies, stablecoins, and other cryptos.

Will BEAM reach a new ATH soon?

With the ongoing developments and upgrades within the BEAM platform, it has the high possibility of reaching its new ATH soon

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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The News Crypto Staff

The News Crypto is a group of crypto journalists writing about the latest happenings in the crypto and blockchain industry.

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