Beam (BEAM), a DeFi token, is gaining market attention with rising momentum, according to a revelation disclosed today by market analyst Crypto Tony. Today, BEAM’s price rise (a 10.3% surge recorded earlier today, currently trading at $0.003022) makes the token one of the top gainers today in the cryptocurrency market.
BEAM’s rise is extraordinary as it displays growing strength that is primed to enable it to shoot upwards to significant heights, as per findings from the analyst.
BEAM is a cryptocurrency that powers the DeFi Beam Network, a DeFi ecosystem that allows a wide range of decentralized applications with privacy and scalability. As per the analyst, BEAM is preparing for an incoming pump that could soon give long-term token holders decent returns.
BEAM’s Rebound Driven by Volume and Market Structure
Today, the analyst shared technical data that shows the formation of a bullish cup-and-handle pattern on BEAM’s weekly chart. This structure, which has been forming over the past week, indicates a rounded base that started last week (on Saturday, January 17) and a handle that is now building below the recent high of $0.00287. The impressive climb enabled BEAM to reclaim a well-established resistance level at $0.003080 and even reach a high of $0.003119, as illustrated in the data shared by the analyst.
With the formation, the asset is respecting this bullish cup-and-handle pattern, indicating robust, continued developing momentum. By holding firm above the $0.003080 support zone, the asset’s bullish momentum remains active, as the analyst is convinced that BEAM holds strong strength to continue climbing upwards. The analyst believes that the complete formation of the pattern is set to trigger BEAM’s price to break out to the $0.0033 range high resistance mark, which is a 10.25% rise.
Why BEAM Gains Momentum
According to the analyst, increasing trading volume confirms the bullish move, driven by growing buying activity, an indicator pointing that BEAM is ready push the next leg up.
Another strong indicator is the recent data reported by market analyst Santiment. Four days ago, on Thursday, January 22, Santiment released metrics that identified crypto assets that are significantly attracting user social engagements. According to the analyst’s data, Bitcoin (BTC), Beam (BEAM), Ethereum (ETH), Chainlink (LINK), and Tether (USDT) are currently the most talked-about assets in the crypto world, showing their popularity and customer fulfillment.
