Steem Price Hanging in there at Resistance
![](https://steemitimages.com/640x0/https://mentormarket.io/wp-content/uploads/2019/03/Capture-2.png)
Few days back the price of steem ran up against resistance at the 40 cent area and what followed was a reversal candle leading to the worry that we were readying to sell off back into the range.
However, steem is in there fighting like a champ at the moment. It tried to selloff yesterday before rallying into the close. Now we are seeing a little red and I'm left wondering can the buyers continue to hold steady?
If so it will bode well for overall price action as shallow pullbacks on decreased volume is a bullish theme.
Looking at price in the chart you can see how it is flirting with resistance. As I've stated in past posts, we need to establish above 45 cents to make any kind of run higher.
Sixty cents is the next consolidation level. Though the 200 day moving average does float in the low fifty cent area and is something that can always come into play.
Either way, let's root for a push above resistance as I'd prefer not to see us trade back down into the range.
![](https://steemitimages.com/640x0/https://mentormarket.io/mentor/wp-content/uploads/sites/2/2018/11/150-blue-Overlay-6.png)
STEEM is about to moon
Interesting to see it hold up even with bitcoin’s recent weakness and seeming to fail against its own resistance. Action will be telling soon!
Posted using Partiko iOS
I find it interesting how cheap Steem is compared to everything else.
Posted using Partiko Android
Yeah, you would think a price of $2-3 is a no brainer compared to it's most similar peers.
No kidding! Makes you kinda want to buy some more while it's cheap now...
i think that Steem will close the year above 3 USD
LET'S GO...break through that glass ceiling of $0.45.