The cryptocurrency market suffered a significant capital outflow over three days between May 26 and 28, with approximately $169 billion leaving the market.
Since then, relative stability has returned with the return of minor inflows, and some altcoins are positioned to benefit from this change, BEAT being one of them.
Over the past day, Audiera (BEAT) slightly extended its gains into the double-digit zone, reaching 10%, continuing an upward trajectory that has seen the token accelerate by 404% over the past 90 days.
Cup and handle shapes in a wider bull flag
BEAT’s technical structure shows a combination of patterns suggesting significant movement in the coming days. The asset has formed a cup and handle pattern, characterized by a downward price trend in a double bottom manner that resembles a cup and handle.
This formation preceded a rally and breakout higher on several occasions. For the breakout to materialize, price will need to overcome the diagonal resistance lines that have formed on the chart to confirm a continuation higher.
Viewed on a broader scale, the cup and handle pattern appears to form within an overall bull flag, a structure that involves an expansive rally followed by a consolidation phase before another expansive move.
The cup and handle represent the consolidation phase within this larger pattern.
Notably, the Accumulation/Distribution indicator reflects a relative calm in buying pressure at the moment, moving along a measured range as the asset accumulates without yet triggering a major increase in buying pressure.
This type of quiet buildup often precedes a more explosive directional movement.
MACD Golden Cross Forms While CMF Remains Neutral
Momentum indicators are giving clear signals that a bullish takeover could be occurring in the BEAT market.
The MACD has formed a Golden Cross pattern, with the MACD line, derived from the difference between the 12-day EMA and the 26-day EMA, crossing above the 9-day signal line.
This formation usually precedes a significant upward movement, reflecting the active participation of buyers in the market.
The Chaikin Money Flow adds additional context. The CMF maintained a positive level at the time of writing, after experiencing a positive trend in previous days.
This signals a balance between buying and selling volumes in the market rather than a decisive trend one way or the other.
$1.17 million in cash sales emerge despite prices holding steady
The main concern at this point is the delta between whales and retailers, which has turned red and negative, signaling that retail traders are gaining more of a foothold in the market and are currently on the seller side.
Spot data shows total sales of $1.29 million over the past day, with a net outflow of $230,000 confirming that sales are currently outpacing purchases.
For now, this represents a risk to the near-term outlook; The fact that BEAT has maintained its gains despite this selling pressure indicates underlying demand dynamics that are absorbing the retail exit.
Final Summary
- BEAT has gained 404% over the past 90 days, with a MACD Golden Cross confirming rising bullish momentum.
- Retail traders generate $1.17 million in spot sales, with a net outflow of $202,000 despite price gains maintaining.
