Can BEER Crash Near Its All-Time Low? 

The BEERCOIN price crashed heavily in the recent sessions from its all-time high (ATH) value. The price dropped over 68.05% last week, indicating an intense selling pressure. 

Since its launch on May 27th, the BEERCOIN showed an impressive bull run, rising over 700% in a span of three weeks. However, the price topped near $0.00057 and slumped over 68% a week. 

At the time of writing, the BEER crypto was trading close to $0.000178, recording a negative intraday development of 4.44%. With a live market capitalization of $97.84 million, it ranks 424th in the overall crypto market. 

BEERCOIN Volume & Volatility Analysis 

The BEER crypto has seen significant ups and downs in less than a month since its launch. The price maintained a strong bull run, rising over 700%, then falling over 68% in the recent week. 

The volume analysis reveals that the transaction volume was higher in the last week when the price started to fall. It might be due to a profit booking after a short-term gain.

The transaction volume dropped drastically in the recent sessions, indicating the bears are losing interest. The decline in the transaction volume may result in a slowdown in the momentum of BEER crypto. 

The intraday volume received was $159.89 Million, with a drop of 5% compared to the previous day. Out of 888.88 Billion BEER tokens, nearly 549.76 Billion are currently circulating. 

Will BEER Hold at the Support or Loom Towards All-time Low?

The BEERCOIN price seems to stabilize near the recent support of $0.00015 after a sharp fall in the last week. It might be the previous defending zone for the bulls before the price heads towards the all-time low of $0.0000825. 

As per the daily chart, the recent supply lies at the $0.000318 level, whereas the recent demand lies near the $0.000178 level. The price may show indecisiveness and sideways until maintained in the range. 

If the selling pressure exceeds again and the price breaks below the $0.000178 mark, it may crash toward the ATL value of $0.000082. Conversely, if the bulls make a comeback and the price surpasses $0.00030, it may indicate a bullish reversal and resume its way toward the higher levels.  

Conclusion.

BEERCOIN experienced a significant drop, losing over 68% from its peak, indicating strong selling pressure. After a 700% rally in just 3 weeks since its launch, the crypto seemed to be heading down for a profit booking. It has a live market cap of $97.84 million, ranking it 424th in the cryptoverse. 

Moreover, the recent volume declines hint at waning bear interest, potentially slowing momentum. Currently, 549.76 billion tokens are in circulation out of 888.88 billion. Currently, the BEERCOIN price seems to stabilize near $0.00015 support, potentially falling to all-time lows if the selling pressure resumes.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.