Hello fellow Steemians!
Steem has been down lately and has faced a downtrend for months... What does the future look like? I am about to tell you! 馃槂
The immediate future is not looking good for Steem. The Moving Averages are not properly aligned, so it will take a few more days before Steem can be predicted to rise in the short-term. Instead, it is much more likely that Steem will stay stagnant while these Averages align or dip down even further over the next few days.
The long-term is not looking too great either. Steem is dragging down and greatly expanding the Bollinger Bands indicating an over-all downward momentum. Further, the MACD is far below the zero-line and has been for sometime- also indicating downward momentum.
I would hold-off on purchasing Steem until is momentum finally corrects (or at least begins to correct).
That's all for this analysis,
Thank you for reading and Steem on!
~Jack
Remember: This is only my analysis, you should always do your own research as well before making any investing decision! This post is not telling you to buy or sell! Trade at your own risk!
