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.
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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.
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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.
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