Retail investors must watch! The key support level after the surge of $BEAT is here; only by timing it right can you catch the next wave!
Today, BEAT performed remarkably! The price surged to $2.42, increasing over 19% in 24 hours! What is the logic behind this?
First, let's look at the technicals. The price of 2.2003 is firmly above the BBI bullish and bearish indicator of 1.9783 and the middle band of the Bollinger Bands at 1.750, indicating a bullish trend. More importantly, the RSI value is as high as 76.5, clearly showing that the buying power in the short-term market is very strong, with overbought sentiment pushing the price higher subsequently.
BEAT is the token of the Web3 version of Audiera. This IP has enormous potential with over 600 million users, providing natural attention and user base expectations for the project. The recent strong price performance is related to the market's increased interest in the “nostalgic IP + Web3” concept sector.
Finally, let me share my personal view. In the short term, technical indicators show a bullish advantage, but the high RSI also reminds us that the price could undergo a technical correction or fluctuation at any time after a rapid rise. The current price is close to the upper band of the 1-hour Bollinger Bands at 2.2562, which is a short-term resistance level to watch.
Those holding can consider partially reducing positions around $2.40-2.42 to lock in profits. Raise the stop-loss for the remaining position to below $2.25 to protect profits.
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