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- 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.
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