The price of Beta Finance (BETA) has experienced a bullish trend after breaking out of a descending triangle pattern recently. It successfully retested the previous resistance level, which has now transformed into a support level, indicating the initiation of a larger upward movement.
This breakout seems to be primarily fueled by an increase in buying pressure, leading to a 10% price surge over the last 24 hours.
New Meme Coin to Watch: Aiming to be the Next Market Mover
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On-chain data from FishTheWhales highlights that major cryptocurrency whales are already accumulating BETA, with a considerable trading volume of approximately $47 million. This accumulation by whales could potentially drive the asset's value higher over time.
Moreover, analytics from "cryptowise.finance" noted a significant 27% surge in BETA within four hours, a notable event not witnessed in the past year. This surge signifies renewed bullish sentiments towards Beta Finance, potentially triggering an extended bullish run for the token.
Market Outlook and Future Potential
The synergy of technical breakout, heightened buying activity, and whale accumulation suggests a positive trajectory for BETA's price in the immediate future. The combined factors indicate a possible continuation of the upward momentum.
This post offers insights on the recent price surge of Beta Finance (BETA) and the factors contributing to its positive market sentiments.
