Steem(STEEM/USD) Update 17/02/2018: Out Of Declining Trend, What Next?

Steem has been showing strength in declining trend for last many days. It has been in process of making higher highs and higher lows on very short term though the overall trend was down.

By looking at the chart above I get an idea that steem trend started to change when it hit support level of $2.5 and also bear exhaustion candle appeared on a daily chart on 6th feb. 2018. Since then steem is in process of making higher highs higher lows which eventually took the price out of Descending trendline.

Though the volume is not painting a pretty picture as it is running down for some time which i think is new normal for this script.

What next?
As Steem price close above the descending trendline, next move could be an attempt to breach resistance level of $5.

Has trend Changed?
Trend at this point in time is neutral to negative and it will only change up when the price starts to trade above rising trendline which is drawn in yellow color on a chart above.`

With that note, I am signing off this little update.

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