STEEM Price Analysis - The $2.60 Area Comes Into Play...
Few days back I posted an analysis on the price of steem. At the time the support level around $2.60 was the key level we were looking to maintain.
Unfortunately price broke below that level and it now acts as an upside resistance.
(Note: when support levels fail they often now act as resistance on the way back up)
Wanna see...???
The above chart is the hourly time frame. You can see on this little attempt to rebound where steem price ran into resistance - yep, around $2.60.
Here's the part I like though...
That line is the one I drew on the daily timeframe quite a while back. It is not like I drew it to fit the hourly chart, it was already there from this chart...
Anyway, right now we are hugging the 200 day moving average and fighting with the $2.60 price area.
Something's gotta give...
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Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.