Steem was struggling today and closed at $5,9. That was below the important trendline we have been talking about earlier so that could mean some bad news for the short term. Here is the daily chart:
Comment: However, there is another supporting trendline a little bit lower, but it was still a defeat not to close above the upper trendline. The lower supporting trendline is right now at $5,5.
What needs to happen now is a good day today (Tuesday) where we will have a close at least above $6,5 or preferrably at $6,9 so watch out for those price levels.
I expect a lot of resistance in this current price area around $6 so it could potentially be a tough day today.
Happy trading!