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. However, it was different than any other week. Many coins bleed badly over the last seven days. Steem was no exception of it.

Source 1 Source 2

Steem was 0.183$ per coin just seven days earlier. The week started with it hovering around the support block around 0.182$. The first four days, Steem, actually gained value steadily. It almost touched 0.19$. But after that, Steem started to falling.

Steem soon lost the support at 0.181$ and headed downwards. The fall was very sharp until it reached 0.17$. However, even that level didn't sustain for long. Steem took another fall, getting to 0.1608$. Good thing is Steem bounced nicely from that level. Currently, it is again testing this support level.

The bearish trendline is acting as a resistance level whereas the 0.161$ level seems like a good support. If Steem can break through the trendline, we can expect some instant pump. However, a fake-out won't help. So the next hours are crucial for Steem. Making a double-bottom and then bouncing is a very good possibility.

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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 fluctuate in the 0.16$-0.183$ range for a while.

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

Thank You.

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