Today in this article we are going to do a price prediction of MoonBeam Coin and This price analysis and Prediction is Completely Based on Technical Analysis.
Just Like fundamentals of a cryptocurrency, Price Action and Technical Analysis does really matter to predict the Price of any stock or Cryptocurrency. So, Let’s Begin
What’s MoonBeam Coin?
MoonBeam (GLMR) is a cryptocurrency that was first presented in December of 2020 and is based on the Ethereum blockchain. Moonbeam is a smart contract parachain based on the Polkadot protocol that integrates with the Ethereum blockchain to allow for the execution of smart contracts.
It is a highly specialized parachain that, unlike Ethereum’s Web3 RPC, is compatible with all of the features and functionality of the Ethereum blockchain. This includes its accounts, key subscriptions, logs, and other features.
When developing Solidity applications in a Substrate-based environment, Moonbeam makes use of commonly used Ethereum developer tools to make the process of creating and delivering Solidity applications more simpler.
The Moonbeam platform extends the capabilities of Ethereum’s basic feature set by introducing on-chain governance, staking, and cross-chain interoperability, among other things.
MoonBeam (GLMR) Technical Analysis And Price Prediction for 2022.
MoonBeam(GLMR) has been following this triangle pattern as shown in the chart above and the support is strong at $2.6 which seems likely to Break Out Upwards as the overall trend is Bullish as per the chart.
The chart above is 4 Hour Timeframe which represents medium term Trend. For Long term Analysis, 1 Day Timeframe is Recommended and even 1 week is great for analysis.
As per 1D Chart, the price action looks terrible as the price of MoonBeam has been in constant Downtrend since the launch in January 2022
MoonBeam Price Support Levels
- Support Level 1 – $2.1942
- Support Level 2 – $1.9643
MoonBeam Price Resistance Levels
- Resistance Level 1 – $3.104 – $3.319
- Resistance Level 2 – $4.717 – $4.819
- Resistance Level 3 – $6.279 – $6.618
MoonBeam Technical Indicators Overview
50Day Moving Average
Due to Lack of Historical Data, 50 day Moving Average is not available which is neither bullish or Bearish.
100 Day Moving Average
Due to Lack of Historical Data, 100 Day Moving Average is not yet available as per 1 Day Chart.
Stochastic RSI
Stoch RSI is currently at 96 as per 1 Day Chart Which Indicates Market is Overbought and Correction is More likely to Occur Before making another Leg Upwards.
Conclusion
MoonBeam is Currently trading at all time lows with potential of immense Upwards Potential, while the Stoch RSI Indicates Overbought, for short term MoonBeam may face Correction but Long term seems Bullish as per chart and Can Hit atleast $6.700 in 2022. For MoonBeam Fundamentals Analysis Read our Review here
MoonBeam Price Prediction For 2023
As per our fundamentals and technical analysis of MoonBeam, We expect MoonBeam to Reach price Target of $20 by the end of 2023.
MoonBeam Price Prediction For 2024
MoonBeam Price Can Target Around Between $40 – $50 as the development of the project Accelerates
MoonBeam Price Prediction For 2025
MoonBeam Price Can hit New All time Hights in 2025 with a target of $80 – $100 with favourable Market Conditions.
Disclaimer
This material is primarily for the aim of educating the reader. It does not constitute a formal offer to buy or sell anything, nor does it constitute a recommendation or endorsement of any specific products, services, or enterprises. Cryptonks.com does not provide any financial, legal, or accounting advice to its visitors. Neither the firm nor the author shall be liable for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in this post, whether directly or indirectly, whether in contract or tort (including negligence). Viewers should perform their own research before making any type of investment in a cryptocurrency.
