Why Are CORE and BEAM Crypto Prices Up? Major Exchange Announcement and Bullish Potential Spark Buying Frenzy
The addition of Core (CORECHAIN) to Coinbase’s roadmap has stirred interest among crypto enthusiasts. Various experts have weighed in on the implications of this move, highlighting potential market trends and trading strategies. Meanwhile, an in-depth analysis of Beam (BEAM) reveals cautious bullish sentiment in the short term.
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Core’s Price Analysis and Market Trends
The listing of Core (CORECHAIN) on Coinbase’s roadmap has catalyzed a notable price increase. According to Coinbase Assets, this addition is a strategic move. The market responded positively, with Core’s value rising by 21% following the announcement.
Karl, a notable crypto analyst, emphasized the bullish trend for CORE. He tweeted, “$CORE is looking absolutely PRIMED for its next leg. A retest of the breakout was successful, and bouncing off the 100 MA now starting to move.” He believes that the Coinbase listing positions CORE as a major contender in the market.
Similarly, CRG highlighted the strong performance of CORE, particularly in light of Bitcoin’s potential price discovery. He noted, “$CORE +21% today after Coinbase added them to their ‘roadmap’ + they reached 2000 BTC staked. If BTC is about to hit price discovery, CORE is gonna giga send right along with it.” This sentiment reflects a broader optimism about CORE’s potential in the current market cycle.
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Show more +Altcoin Sherpa also shared a cautious but optimistic view. He stated, “$CORE: Temporary bottom looks in but would wait for a solid break of $2 before entering. I think this goes to $2.50+ in the mid-term as long as BTC is stable.” This analysis suggests a potential upward movement contingent on Bitcoin’s stability.
Read also: Kaspa (KAS) Token Price Predicted to Reach $7 in This Bull Cycle: Here’s Why
Beam’s Technical Analysis
An analysis of Beam (BEAM) on TradingView reveals a cautiously bullish sentiment in the short term. The price has also risen by more than 6% today. The chart displays two simple moving averages (SMA) – a shorter period close to 10 days in red and a longer period of 20 days in blue. With the shorter SMA standing above the longer SMA, this indicates a bullish trend, suggesting that Beam’s price has been increasing faster in the short term and reflecting positive momentum.
Additionally, the Bollinger Bands show a contracting pattern, indicating decreased market volatility. This contraction often precedes a significant price move, though the direction remains uncertain. Key support levels labeled as “Bottom 1” and “Bottom 2” provide critical points where the price previously reversed upwards, potentially acting as support if the price declines again. Furthermore, trend lines highlight pivotal points for future movements, with recent price action hovering near these lines.
Moreover, the MACD indicator shows the MACD line above its signal line, indicating a bullish signal. However, the contracting histogram suggests a potential slowdown in momentum, requiring traders to monitor the MACD closely for changes in the trend’s strength.
Currently, Beam’s price fluctuates around the 0.029 area, maintaining a narrow range close to the 20-day SMA. This consolidation indicates market uncertainty, with traders potentially waiting for more definitive signals before making significant moves.
The addition of Core (CORECHAIN) to Coinbase’s roadmap has generated market excitement, with experts predicting strong future performance contingent on broader market conditions. Meanwhile, Beam (BEAM) exhibits cautiously bullish signals, with technical indicators suggesting potential future movements.
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