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Beam Price Prediction 2024: BEAM Price Analysis

Last Updated May 31, 2024 12:51 PM
Nikola Lazic
Last Updated May 31, 2024 12:51 PM
By Nikola Lazic
Verified by Peter Henn

Key Takeaways

  • BEAM made its all-time high in March and has been in a downtrend since 
  • June 24 could have been the bottom as indicated by technical indicators
  • Price up by 13% from its recent low with more upside potential
  • One Beam price prediction says the token can reach $0.10 in 2025. 

Since coming out in late October, the price of the BEAM token has more than doubled. The Beam game development platform has gained the attention of investors and the token reached an all-time high in March.

On July 3, 2024, BEAM was trading at about $0.017. 

But what is Beam (BEAM)? How does Beam work? Let’s see what we can find out, and also take a look at some of the Beam price redictions that were being made as of July 3 2024.

Beam Price Prediction

Minimum BEAM Price Prediction Average BEAM Price Prediction Maximum BEAM Price Prediction
2024 $0.03 $0.04 $0.05
2025 $0.08 $0.10 $0.12
2030 $0.05 $0.10 $0.15

Beam Price Prediction 2024

BEAM could have ended its first two sub-waves out of the larger bullish five-wave cycle. Potentially, there is one more lower low before it ends it first bull market correction, but either way, we expect to see its wave developing later in 2024. 

Beam Price Prediction 2025 

If BEAM advances higher than before, making a new all-time high in 2024, it will likely proceed to one more upward advancement in 2025. The target for its peak depends on where the current correction ends and the momentum behind the expected wave 3 in 2024. 

Beam Price Prediction 2030

The price of BEAM would be expected to end its first bull market cycle in 2025, leaving the next couple of years for its bear cycle. Those usually come as an 80-90% depreciation and last approximately three years. That makes 2030 the year its next bull phase should begin, regaining some of the values previously made or potentially exceeding them. 

Beam Price Analysis

Since its market release in October last year, the price of BEAM has been in a major uptrend. It started trading at $0.003 and reached an all-time high of $0.044 on March 10, 2024. When this 1,300% increase ended, we saw a downturn. 

BEAM
BEAMUSD | Credit: Nikola Lazic/Tradingview

A descending channel formed, leading BEAM to a low of $0.020 on April 13. This was a quick spike, as the daily candle snapped back and closed at $0.023. However, it fell to a lower low of $0.015 on June 24, which could be the end of this descending channel. 

But, looking at the wave structure, it appears that BEAM is in a complex WXY correction. If this is true it could make another lower low to the 0.786 Fibonacci level of $0.011. Either way, we expect to see an interaction with the descending resistance in the near term, and the interaction result will provide further hints into the main outlook. 

If it breaks out to the upside, that could signal the start of a new bull phase for BEAM. Alternatively, a rejection will indicate that the descending channel correction still has one more downside advancement before it ends. 

Short-term Beam Price Prediction

After establishing support at $0.015 on June 30 for the second time, BEAM is in an uptrend. Whether this is be a corrective increase or not, we could expect a further rise. 

BEAM
BEAMUSD | Credit: Nikola Lazic/Tradingview

BEAM is in a minor downtrend expected to end in the next 24 hours, with the price making another higher high of $0.021. After its ABC correction establishes a higher low above $0.017, BEAM should advance for another uptrend, reaching the descending resistance of $0.022. 

Beam Fear & Greed Index

The Fear & Greed Index measures market sentiment on a scale from 0 (Extreme Fear) to 100 (Extreme Greed). It aggregates factors such as volatility, market momentum/volume, social media activity, dominance, and trends to provide a sentiment overview. 

Extreme fear can suggest investors are overly worried, potentially presenting a buying opportunity, whereas extreme greed indicates excessive bullishness, often signaling an imminent market correction. 

Fear and Greed Index
Fear and Greed Index | Source: Alternative

On July 3, 2024, the Fear & Greed Index Measured 50, suggesting a neutral market environment.

Beam Average True Range (ATR)

The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days. 

BEAM
BEAM ATR | Credit: Nikola Lazic/Tradingview

A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels. On July 3 2024, BEAM’s ATR was 0.0017, suggesting low volatility. 

Beam Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above and below the 50 line also indicate if the trend is bullish or bearish. 

BEAM
BEAM RSI | Credit: Nikola Lazic/Tradingview

On June 23, 2024, BEAM’s RSI was at 26%, indicating oversold conditions. As of July 3, 2024, it stands at 41%. 

Beam Price Performance Comparisons

Current Price One Month Ago Price Change
BEAM $0.017 $0.027 -37.04%
IMX $1.50 $2.22 -32.43%
KAS $0.17 $0.17 0%
RNDR $7.13 $9.99 -28.63%

How Do We Make a Beam Price Prediction?

Our price prediction for Beam combines technical analysis tools and recognizes the logic in price cycles. We’ve primarily used the Elliott Wave Principle, which describes these price movements in their motive and correction phases. Applied to the BEAM-specific time-frames and its price history, we can come up with the targets, although the further we project, the less accurate they are because they depend on what happens in between. 

Best Days and Months to Buy Beam

  • Best Month to Buy Beam: July, with an average closing price of approximately $0.018003.
  • Best Day to Buy Beam: Wednesday, with an average closing price of approximately $0.017811.

These periods were when the average closing prices were the lowest, indicating potentially better buying opportunities.

BEAM Price History

Time Period Beam Price
One day ago (July 2, 2024) $0.0184
One week ago (June 26, 2024) $0.016
One month ago (June 3, 2024) $0.028
Launch price (October 26, 2023) $0.003
All-time high (March 10, 2024) $0.044
All-time low (October 26, 2023) $0.003

Beam Market Cap

The market capitalization, or market cap, is the sum of the total number of BEAM in circulation multiplied by its price.

BEAM
BEAM Market Cap | Source: coinmarketcap

On July 3, 2024, Beam’s market cap was $852,261,074, making it the 78th-largest crypto by that metric. 

Beam Supply and Distribution

Supply and distribution Figures
Maximum Supply 62,434,008,330
Circulating supply (as of July 3, 2024) 49,466,004,168  (79.23%of maximum/total supply)

 

Who are the Founders of Beam?

Anonymous members of the Merit Circle DAO (Decentralized Autonomous Organization) founded Beam in 2023.

From the Whitepaper

In its technical documentation, or whitepaper , Beam says it aims to make creating games on the blockchain easier.

It says: “Beam is a sovereign network focused on gaming brought to you by the Merit Circle DAO. Powered by the established Avalanche network, Beam operates independently to cater towards gamers and game developers.”

Beam (BEAM) Explained

The BEAM cryptocurrency supports the Beam network. The platform is designed to be a place where developers can create online games. 

Based on the Avalanche (AVAX) blockchain, it should not be confused with the Beam blockchain, a network created to allow blockchain users greater privacy. 

However, while Beam is based on Avalanche, BEAM is based on Ethereum (ETH). 

How Beam Works

The Beam  network allows people to transfer their Ethereum-based applications onto the system.  In order to build on Beam, developers need to gain the approval of four people from a panel of eight members of the Merit Circle DAO. 

The BEAM token pays for transactions on the platform. People can also buy, sell, and trade it on exchanges. 

Because BEAM is based on Ethereum, it is a token, not a coin. You might see references to such things as a BEAM coin price prediction, but these are wrong.

Is Beam a Good Investment?

It is, perhaps, still a little too early to tell. While BEAM has performed well since coming out, the platform is still in its early stages. We don’t know whether it can continue to rise, or whether its recent upturn is just a spike. 

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in BEAM.

Will Beam go up or down?

No one can really tell right now. While the Beam crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Beam?

Before you decide whether or not to invest in Beam, you will have to do your own research, not only on BEAM, but on other, related, coins and tokens such as GALA. Either way, you will also need to make sure that you never invest more money than you can afford to lose.

FAQs 

How many BEAM are there?

On January 31 2024, there were 49.4 billion BEAM in circulation out of a total supply of 62.4 billion.

Will BEAM reach $1?

It might do, but not for some time. PricePrediction.net says it can get there by 2040.

What is BEAM used for?

BEAM pays for transactions on the Beam platform. People can also buy, sell, and trade it on exchanges.

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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