Weekly STEEM Prices Analysis || 10% To @tron-fan-club

Good day to everyone at Tron Fan Club. I hope you all are doing very well in these troubled times in the market. After a very volatile last week, this week has been somewhat uneventful and bit stable compared to the previous few weeks. This has had some altcoins rise in value. As they rise in stability. But STEEM even though after showing good potential, lost all of it and more towards the backend of the week. This constant failure does ensue an uncertainty for the traders.

Source 1 Source 2

So again we go into the STEEM prices here. And this week we see it holding a position at 0.2277$ and failing. Now we must note that the very previous couple days have seen STEEM having a surge in prices. A little pump as you can say. So it was expected for the price to fall and reset that pump. It stopped at 0.2226$. And since then it has only gone up. For multiple days that too. From 15th October to almost 18 October. For these three days the prices have increased on a good note. We can easily see that there are higher highs and higher lows recorded here. This uptrend topped out at 0.2332$. a very small difference in the grand scheme of things, but at this macro level, that much increase does mean something.

But sadly this trend couldn't continue. From 18th October onwards, we see all the value that STEEM had gained in the past three or so days, all lost in the span of just one day. And it went back to square one. Reached a low of 0.2216$ in no time.

Then moving on to the last couple days. Here we see a very small, arguably insignificant uptrend. But an uptrend is an uptrend. You take every penny you get. And in this case after dropping to the 0.222$ region, it had gained something by going up to 0.226$. But then the latest hourly close says a different story. The current price of STEEM is 0.2223$. But we must also acknowledge that this new one is also trying to maintain a higher high and higher low increment. The only bit of sunshine here is that all this happening above a certain support barrier. The 0.221$ mark is acting as the current support barrier and STEEM prices haven't gone under that during this week.

All Screenshots are taken from Coingecko

There's not much good news regarding STEEM as of now. But the investments are coming. And of course we are to expect an economic crisis in the crypto market especially for how the world is now. Nevertheless, that support barrier needs some holding, and if it does, it can be golden.

Thank You.