Moving Charts: STEEM Prices Analysis | 10% To @tron-fan-club

Hello and good evening to everyone at the Tron fan club. Another week has been passed so quickly. With the pump two weeks earlier, Steem made us hopeful. However, it is a matter of sorrow that we got back to where we started. It is currently sitting at 0.186$, with 7.2% decrease in a week.

Source 1 Source 2

Steem started this week as 0.20$ per coin. The week started with losing the support block that we drew previous week and was hoping that it would hold. So after losing this support level, we fluctuated between 0.19$ and 0.198$ for a while. However, even the next support level of 0.19$ was lost soon enough.

After losing the support level, Steem fell straight forward to 0.1816$. The good thing is that we bounced nicely from that level. We had even broken the bearish trendline which was leading us downwards. Breaking that trendline fueled Steem for another pump, that Steem does very well. However, we got rejected at 0.1976$.

Getting rejected so badly at that resistance level impacted negatively for Steem as it started falling. The hope was that Steem would bounce from the bullish trendline and it would act as a support level. But we lost that one too, sadly. Steem needs to make it a fake-out and get back on the bullish trendline as soon as possible.

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All Screenshots are taken from Binance

With the negative vibe spreading again throughout the crypto market, a lot of coins are currently bleeding. Steem is no exception. However, I believe we will fluctuated in the 0.18$-0.20$ range for a while.

No word from this article should be taken as financial advice.

Thank You.

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