Steem Dollars (SBD): Price Consolidation Hints at Potential Breakout

This analysis takes a professional look at Steem Dollars (SBD) and its intriguing price movements.

Current Price Action:

SBD is currently trading at $3.66 with a 24-hour trading volume of $38 million.
Daily charts reveal a recurring pattern where price drops leave weak candles at the high, followed by a balancing of liquidity on the downside.
This has established a range-bound trend between $3.54 and $4.02.
Technical Analysis:

Weekly charts indicate successful absorption of liquidity at the previous week's $3.35 level, mirroring an earlier low.
With two days remaining in the week, it will be interesting to observe the price reaction at the week's close.

Monthly charts suggest a potential breakout from the current structure. A weak candle at the $4.62 level hints at a possibility of reaching that target within the month.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research before making investment decisions.