thenewscrypto.com
- Upbit’s listing of BEAM on its platform has led to a 39.68% rally to $0.03611.
- If the current trend persists, BEAM could surge further to $0.038535.
South Korea’s premier cryptocurrency exchange, Upbit, recently added Beam (BEAM) to its trading list, leading to a surge in trading volumes and investor interest. The announcement has significantly boosted BEAM’s visibility and accessibility, propelling a sharp demand increase. This heightened interest drove BEAM’s price up by over 39.68% in a few minutes, jumping from $0.02589 to $0.03611.
At the time of writing, BEAM is trading at $0.3341, marking a 21.65% increase with a market cap of $1.60 billion. Over the past week, BEAM’s price has climbed around 37%.
Trading for BEAM on Upbit commenced at 18:00–19:00 KST on May 31. The open interest in BEAM has surged by over 40%, with a valuation of $30 million, and the Relative Strength Index (RSI) stands at 58, indicating a strong bullish trend.
Will BEAM Continue its Rally?
BEAM, the leading GameFi cryptocurrency, launched in October 2023 and reached an all-time high of $0.04434 in March 2024. Since then, the cryptocurrency has struggled to break the key resistance of $0.035 and has traded between $0.021 and $0.032.
If the current trend persists, BEAM could trigger a 5% price increase to $0.0367, followed by a further rally to $0.038535, bringing it closer to its all-time high of $0.04434.
However, BEAM is still down by 24% from its all-time high. Conversely, if BEAM fails to maintain its position above $0.03056, it could face a decline to $0.02589, potentially triggering a further drop to $0.02156.
The BEAM token is integral to the Beam network, a pioneering gaming ecosystem powered by the Merit Circle DAO. This platform is designed to create a collaborative space for gamers and developers.