Beta Finance Deep-Dive + Trade Setup

21 Okt

Here we go with today's token deep-dive. This time, I analyzed Beta Finance. Here's what you get:

- About the token + tokenomics
- Chart analysis
- Technical indicators
- Trade setup

Ready? Let's go!

‣ About Beta Finance
Beta Finance is a decentralized finance (DeFi) platform focused on offsetting crypto volatility and enabling market stability.

It allows users to borrow, lend, and short crypto assets through an isolated collateral model, meaning one asset’s risk doesn’t

‣ Tokenomics & Data
BETA is Beta Finance's native utility and governance token.
- CoinMarketCap Rank: 632
- Market Cap: 337M
- Volume (24h): 2M
- Total Supply: 1B
- Circulating Supply: 859M
- Latest Price: $0.043
- ATH: $4.63
- ATL: $0.035

‣ Chart Analysis
BETA has been trading in a strong downtrend since March.

As a result, BETA traded at an all-time low at the beginning of August. And even today, the token is only ~20% above its ATL.

Since July, BETA has entered a descending triangle pattern. Typically, this pattern indicates a trend continuation. Accordingly, a break to the downside seems likely.

However, given the current bullish market sentiment, a break to the upside is possible.

‣ Technical Indicators
MACD: Bullish 🟢
RSI: Neutral 🟢
VMA: Neutral 🔵
Triple EMA: Price trades below all EMAs (10/50/100/200) 🔴
ADX: 15, indicating no trend 🔴

‣ Breakout Soon!
Based on the current chart, it is likely that BETA will soon break out of the pattern.
- The price is very close to the edge of the triangle
- The Bollinger Bands are super-tight, typically indicating an upcoming breakout.

‣ Trade Setup

The trade setup depends on the break out direction. As discussed, both directions are possible.

Bullish Setup
- Entry: Wait for the price to close above the downtrend line and confirm on the daily chart.
- Profit Target: Slightly below $0.06 (~30%).
- Stop Loss: Depending on the entry, slightly below the upper trendline.

Bearish Setup
- Entry: Wait for the price to close and confirm below the support at 0.04.
- Profit Target: ATL at 0.035 (~15%)
- Stop Loss: Slightly above the resistance.