A whale recently made significant purchases in the cryptocurrency sector, spending $35.7 million on acquiring BEAM, FTM, PEPE, and AERO. This news has sparked interest in potential market impacts and future price trends.
Crypto Purchases Worth Millions
According to Spot On Chain, the whale invested $6.7 million to buy 189.55 million BEAM tokens at an average price of $0.03515. Additionally, acquisitions included 10.245 million FTM for $13.5 million, 531.7 billion PEPE for $11.04 million with unrealized gains of $1.94 million, and 2.453 million AERO for $4.43 million, showing a $699,000 profit.
Analysis of BEAM's Price Trend
Analyst @ChartNerdTA noted that BEAM is breaking out of a descending channel, showing bullish signs. Support at $0.02455 aligns with the 0.5 Fibonacci retracement level, and resistance at the ATH near $0.03585. BEAM may retest the support level before advancing to higher targets like $0.066 and $0.11.
BEAM Price Prediction
Fibonacci levels provide a structured view of BEAM's potential price movement. Trading around $0.03575, the ATH resistance at $0.04434 serves as a psychological and technical barrier. If surpassed, it could pave the way for a rally toward $0.066 and $0.11, assuming bullish momentum continues.
The whale's activities and subsequent analysis underline the dynamic nature of the crypto market. Observing how BEAM interacts with key resistance and Fibonacci extension levels will be crucial for understanding its short-term prospects.
