The BEAM price has fallen gradually since its all-time high of $0.027 on December 14, 2023.

Despite the decrease, the price regained footing in 2024 and broke out from a long-term pattern.

BEAM Attempts Breakout

The daily time frame chart shows that the BEAM price created a bullish hammer candlestick on January 3 (green icon), when it had fallen to a low of $0.012. The price has increased since.

After creating a higher low on January 14, BEAM accelerated its rate of increase, creating an ascending support trend line. Today, it is making its third bullish candlestick, breaking out from a horizontal resistance area that has been in place for nearly a month.

The daily RSI is also turning bullish.

The RSI is a momentum indicator traders use to evaluate whether a market is overbought or oversold and whether to accumulate or sell an asset.

Readings above 50 a

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Author: Valdrin Tahiri

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