The price of Beta Finance (BETA) has been bullish following a breakout out of a descending triangle pattern two days ago. The price has been able to retest the former resistance level and is now turning it into support. This suggests the beginning of a larger move upwards.
This breakout could be driven by increased buying pressure, as the price is currently up by 10% in the last 24 hours.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +On-chain analytics from FishTheWhales reveal that cryptocurrency whales are already accumulating BETA, with the asset seeing a trading volume of around $47 million, indicating strong interest from major holders. This whale accumulation could help propel the asset higher in the long run.
Additionally, the analytics platform “cryptowise.finance” noted that BETA’s 27% pump in the last 4 hours was the first time such a move had occurred in the last year. This signals fresh bullish sentiments for Beta Finance and could trigger a longer-term bullish rally for the token.
Read Also: MOG Meme Coin Price Explodes Over 100%, Flips BOME: What’s Next for the Solana Token?
Overall, the combination of technical breakout, increased buying pressure, and whale accumulation suggests the price of BETA may continue its upward trajectory in the near future.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
