Beam Price Forecast: Why BEAM Could Rally to $0.10 Soon

Highlights:

• BEAM is consolidating intra-day trading between $0.0364 and $0.0320
• BEAM could rally to $0.10 if the $0.0364 resistance is broken
• A series of good news could trigger a breakout to $0.10

Beam is going against the tide today. While Bitcoin and most top altcoins are in the red, Beam has gained by 4.53% intra-day. At the time of going to press, Beam was trading at $0.03382 and gaining. Beam trading volumes were also on the rise up by 77.52% in the last 24 hours to hit a high of $173.24 million.

This is an indicator that a lot of investors are shifting their attention to Beam, potentially in anticipation of a big price move in the short term. The potential for big price moves for Beam is already evident in its price action in the day.

Technical Analysis – Range Bound Trading a Precursor to a Breakout

Beam is currently range bound an indicator that at some point soon, it could be headed for a breakout. Beam is currently oscillating between the $0.0364 resistance and $0.0320 support. If bulls take control and push Beam through the $0.0364 resistance, then a rally to prices as high as $0.10 could follow. On the other hand, if bears take control and push Beam through the $0.0320 support, then a correction below $0.030 could follow.

Broader Market Is in Recovery

Of these two scenarios, a rally through the $0.0364 resistance seems more likely. That’s because the broader market, despite the intra-day volatility, is increasingly bullish. Already, Bitcoin has recovered back to $97k after a drop to $94k on December 9. This is an indicator that bulls are firmly in control and that another blast through the $100k resistance could be underway. 

This is likely to push all altcoins higher, especially those that have already shown bullish momentum such as Beam. The rising trading volumes on Beam as Bitcoin recovers is a strong indicator that Beam bulls could soon attack the $0.0364 resistance another time, and with enough momentum to breach it.

However, it is not only the intra-day price action and rising market momentum that is positioning BEAM for gains. Beam’s core fundamentals are also strong and appear to be getting stronger. A good example of this is the fast-growing adoption of Beam games.

Beam’s Trial Extreme Hits 500k Downloads Milestone

One of the biggest pointers to Beam’s strengthening momentum is the adoption of its games. Data indicates that Beam’s gamin app, Trial Extreme has now pushed through the 500k downloads mark on Google Play. 

Trial Xtreme has only launched in a few countries, and already doing big numbers.

The anticipation for the full release is building.

We can’t wait. https://t.co/nfpDNkvJLw

— Beam (@BuildOnBeam) December 8, 2024

Yesterday, December 9, the Beam Foundation celebrated hitting 500k downloads by laying out an even more ambitious plan for the future of Beam. They also pointed out that the growth was a reflection of Beam’s focus on making sure that users have an engaging and easy gaming experience.

Beam Foundation Set to Launch a $40 Million Tactical Compute to Unlock Opportunities

On December 9, Beam Foundation announced via X that it had entered a partnership with Aethir and MetaStreet. The initiative, funded with $40 million, aims to tackle the strong demand for AI computing power. Through the partnership, the Beam Foundation will aim to monetize computing resources like yield finance and even hardware.

Trial Xtreme has only launched in a few countries, and already doing big numbers.

The anticipation for the full release is building.

We can’t wait. https://t.co/nfpDNkvJLw

— Beam (@BuildOnBeam) December 8, 2024

Through this partnership, Beam can be in the middle of the convergence between AI and cryptocurrencies. With all the hype around AI at the moment, Beam could see a surge in FOMO buying in the short term. Already, Beam’s price action on a day that the broader market is in the red points to the direction Beam could go once FOMO kicks in across the market.