A whale has made interesting moves in the crypto market with substantial purchases across several tokens. Per data from on-chain analytics firm, Spot On Chain, the whale has spent over $35.7 million acquiring BEAM, FTM, PEPE, and AERO.
These high-value transactions have raised questions about the investor’s strategy and the potential impact on the market. Analyst @ChartNerdTA has also shared a detailed breakdown of BEAM’s price trends and possible future movements, adding further insight into its trajectory.
What you'll learn 👉
Whale Spends Millions on BEAM and Other Tokens
Spot On Chain reported that the whale spent $6.7 million to acquire 189.55 million BEAM at an average price of $0.03515.
This transaction occurred within the last 29 hours, at the time of the report, adding to the whale’s diversified portfolio. Since December 1, the whale has allocated $35.7 million in $ETH to accumulate four tokens:
- 10.245 million FTM: Purchased for $13.5 million, currently showing a $181,000 unrealized loss.
- 531.7 billion PEPE: Acquired for $11.04 million, with unrealized gains of $1.94 million.
- 189.55 million BEAM: Now reflecting a $91,400 gain.
- 2.453 million AERO: Bought for $4.43 million, showing a $699,000 profit.
This aggressive buying behavior has fueled speculation about BEAM’s potential, especially given its current upward momentum.
Analyst Charts BEAM’s Path Towards Key Levels
Analyst @ChartNerdTA provided insights into BEAM’s technical performance.
According to the analysis, BEAM has broken out of a descending channel and is showing bullish signs. The chart highlights key support at $0.02455, which aligns with the 0.5 Fibonacci retracement level, and resistance at its all-time high (ATH) near $0.03585.
The analysis suggests that BEAM may retest the $0.02455 support before advancing to higher Fibonacci extension targets. These targets include $0.066 and $0.11, which correspond to the 1.272 and 1.618 extensions, respectively. However, failure to hold support at $0.024 could trigger a bearish reversal toward $0.017 or lower.
BEAM Price Prediction
The 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 investment aligns with BEAM’s growing market interest and the chart’s upward trajectory. The confluence of technical and fundamental signals suggests potential opportunities.
Read also: This Analyst’s Stellar (XLM) Price Prediction Will Leave You Stunned
Market Sentiment and Broader Implications
The whale’s activities and the subsequent analysis underline the dynamic nature of the crypto market. As BEAM approaches key resistance and Fibonacci extension levels, watching closely for confirmation of the bullish outlook will be crucial.
Whether BEAM sustains its momentum or faces resistance will shape its short-term performance and investor sentiment.
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