while Ethereum and Bitcoin are experiencing 18 months highs, STEEM is dropping from its stable support levels in last months. As a fiat opt-out guy I have always said I don't care about STEEMUSD as much as STEEMETH and STEEMBTC are important to me.

Re-trace-ment

If you look longterm, on a 50 period daily chart we can see the probable retracement would be as below:

So these are probable levels with the probability mentioned in the picture, based and calculated on Fibonacci retracement formula and considering three Moving Averages on 21, 55 and 100, all exponential:

0.0014 to 0.00189
then to 0.00233
and finally to 0.00268

above the last resistance level, a reversal in the trend is probable.

If you look in to the

Short term retracement

You probably can read everything from the image:

OK, enough technical talk and charts! In my next post, I will mention why I believe STEEM is not doing fine and how I believe this lovable token and the community behind it can perform better.