Like most of the other Altcoins, Steem ($0.25) also took a major hit this year, currently hovering at -97% from its all time high ($8.19).
Despite all of these negative aspects, we still have around 2 mln. trading volume, ranking #76 in the crypto hierarchy, which isn't that bad.
a broader look at what the $0.20 level actually means for us: starting with 2016, we have found support as well as resistance here; let's see how we will behave this time
notice the 21 EMA (yellow) pushing us down
the MACD is right near the signal line and the bullish Histogram is decreasing
the RSI is approaching the lower reference line; last time we touched it, a pretty nice rally followed
as you can see, in the 2016 - 2017 period, a lot of accumulation happened in the $0.10 - 0.20 area, which ended in an almost vertical price spike
currently we might have the same situation: people accumulating in the $0.25 - 0.40 area, waiting to buy even lower. And most certainly, this will end up again in a vertical price spike
STAY SAFE - TIP: ALWAYS CREATE A DIFFERENT PASSWORD FOR EACH EXCHANGE! NEVER USE THE SAME PASSWORD TWICE! SAVE THE PAGES TO YOUR BOOKMARKS, SO THAT YOU WON'T CLICK ON SCAM SITES!
Thanks for reading and safe trading!✌
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All Eyes On STEEM! | Ecency
Cripto sin fronteras #09 El dinero también pierde valor cuando no haces nada con él. [ES/EN]vladimirmf ·
