BEAT rallies 35% as wallet growth puts failed breakout back in play

BEAT has become the top gainer of the day after climbing more than 35% over the past 24 hours despite weakness across most digital assets.

According to CoinGecko data, the token continued extending its recovery while many major cryptocurrencies struggled to hold recent gains. 

The move lifted BEAT to around $2.44 after buyers stepped in following a sharp correction earlier this month.

The primary catalysts behind the rally can be narrowed down to a combination of improving technical conditions and a surge in on-chain activity.

In a post on X, Audiera said on-chain data from Dune Analytics showed a steady increase in new wallet addresses over the past 30 days, describing the trend as continued ecosystem expansion.

Notably, cumulative new holders had climbed from roughly 2,000 in late May to more than 8,000 by June 23.

Elsewhere in the market, fresh inflation data and geopolitical uncertainty weighed on crypto sentiment on June 25, pushing large-cap cryptocurrencies such as Bitcoin and Ethereum lower. 

During that period, momentum traders rotated into a handful of mid-cap tokens that continued posting positive technical signals, with BEAT emerging as one of the strongest performers.

Can BEAT extend its rally?

BEAT's latest recovery began after buyers repeatedly defended the $1.20 to $1.65 demand zone, halting the sharp selloff that followed the token's run above $10 earlier this month. 

As selling pressure eased, the daily chart started forming a rounded-bottom pattern before price reclaimed the $1.65 support level and advanced toward resistance around $2.56. 

In technical analysis, a rounded bottom typically signals that sellers are gradually losing control while buyers steadily regain momentum, often preceding a sustained trend reversal.

BEAT/USDT 1-day price chart.  Source: TradingView.

BEAT is also trading above its 20-day and 50-day exponential moving averages, positioned near $2.23 and $1.65. See below.

BEAT/USDT 1-day price chart. Source: TradingView.

The next technical hurdle lies close to the 100-day EMA around $2.65, placing it alongside the existing horizontal resistance and creating a key zone for bulls to clear.

On Balance Volume also surged during BEAT's earlier rally and has stayed well above pre-breakout levels despite flattening in recent sessions, suggesting buying interest has not fully faded after the correction.

On the 4-hour chart, the Relative Strength Index rose to around 62, leaving room for additional upside before reaching overbought conditions. 

The MACD remained above its signal line with a positive histogram, indicating bullish momentum was still intact even though the pace of the advance remained measured.

BEAT/USDT 4-hour price chart. Source: TradingView.

The Moving Average Convergence Divergence indicator also stayed above its signal line with a positive histogram, indicating that upside momentum remained intact, although the pace of acceleration was still moderate.

Price action has supported those signals.

Following a brief drop to around $1.55 on June 25, BEAT quickly recovered to about $2.44 while printing higher highs and higher lows across the 4-hour timeframe, pointing to sustained demand rather than a one-off spike.

The next test now sits between $2.56 and $2.65, where horizontal resistance converges with the 100-day EMA. 

A decisive close above that region would confirm the rounded-bottom breakout and strengthen the recovery, while rejection there could bring another test of the reclaimed $1.65 support zone.