A well-known cryptocurrency analyst, Altcoin Sherpa, has expressed his long-term bullishness on Beam (BEAM), an open-source gaming blockchain. He believes BEAM has the potential to outperform other altcoins in the gaming subsector during the current bull market cycle.
BEAM: A Promising Gaming Altcoin
Altcoin Sherpa predicts that BEAM will experience significant price increases during this bull market. He advises against buying BEAM at its current price but suggests waiting for a slight dip before investing. In his opinion, BEAM has the potential to reach much higher levels in the long term.
At the time of writing, BEAM is trading at all-time highs of $0.102, marking a 14% increase in the last 24 hours.
BEAM’s Accumulation and Breakout Pattern
Altcoin Sherpa compares BEAM’s price action to that of Chainlink (LINK) and SuperVerse (SUPER), two other altcoins that experienced a prolonged accumulation period before breaking out. He believes that these coins tend to follow a pattern of a significant price increase followed by a period of consolidation before the next rally.
BEAM, LINK, and SUPER: A Comparison
Chainlink (LINK) and SuperVerse (SUPER) have also exhibited similar patterns. LINK has broken out of two accumulation periods, while SUPER has broken out of a multi-month consolidation period. At the time of writing, LINK is trading at $20.24, and SUPER is worth $0.956, showing an 11% increase in the last 24 hours.
Altcoin Sherpa’s opinions do not constitute investment advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets.