source: https://www.coingecko.com
Recent 13% upswing after 0.1881 low did not appear to reverse downtrend. The question is, if this spike reflects the pattern (previous spike was 11%), do we now see continued downtrend observed?
source: original analysis based on coingecko.com 60d chart
~0.18 to ~0.165 lows before significant (~30+%) jump is predicted. Seems we are getting close to such a jump. We will see if the pattern holds.
Has a new support low just formed?
If we take recent spike of 13% as a new peak - then a ~40% downtrend will set the new price at 0.128.
The only way to be sure is if the STEEM/USD price breaks through the 0.1650 floor anticipated in the analysis.
If the trend reverses upward, expect a high peak price of ~0.2445. We will have to revisit and see if support beyond that peak is achieved (and potentially reflect a shift in the 60 day trend).