STEEM Breaking out of a Descending Trendline?

in cryptocurrency •  last year

STEEM looks to be breaking out of a downward descending trendline. Confirmation is still needed on the daily and so admittedly this post is early but we are in a buy range regardless.

While many investors rate cryptocurrencies by market cap, takes into account all of the actual activity on the blockchain. This provides a clearer picture of which blockchains are actually delivering value.

The above chart shows how the price previously hit three times the huge demand area and it looks for me it's about time to breakout.


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This would be great news. Steem has taken the same hit as the rest of the market and we have all felt the pinch. Being new to the steemit platform I have very little to lose at this point but I can imagine that this downturn has put some strain on some accounts around here. The good thing is that if I'm right then the people who are invested in this platform the way that I am starting to invest myself then the dip really shouldn't be an issue as we are in it for the long term and as believers in crypto we are confident the market will come back. I'm just keeping my fingers crossed for a slow and steady rise. None of this crazy boom crash stuff. Slow gains with little ebbs and flows would be a nice way to have things settle out. It will be interesting to see the price once Binance is back online.



Below 4$ steem is best investment

This is great news @tradewonk! After of almost 2wks in the downward trend we are all hoping to see it fly again. :)
Thank you for sharing this @tradewonk! :)

Would love to see this scenario play out with the small impulsive wave back up to $7+. Let's get some bullish action, enough of this sell off...

Yes, I saw this. Steem breaking out of a downward descending trendline. But its price is still stable. It's price can't cross $4 since 4 days maybe.

Nice, I love this pattern! Let's see if we can see the breakout in the next hours...Anyways, we will see Steem mooning sooner or later ;)

Once trendline breaks ,a retest will occur before the actual move start.....Nice one

Wow. Already long expected. I did so many updates on how very soon the upward trend shall commence. Thanks for sharing


Keep more coming 👌

Steem is one of the mosr undervalued coin considering its blockchain activity, speed and transaction fee. The trend on your chart shows steem has more room to grow and definitely it will rocketed up to a new ATH.

Guys, where do you think Steem price will go by Jan 2019? I think 50$ is possible.

Hopefully, this upward trend continued for a long time.

it needs to wait till binance is back online so i can get some.

I wish Cryptopia carried STEEM.

If they can carry Lindacoin, they should carry STEEM for crying outloud.

I like it! It also looks like most of the other cryptos are close to breaking out of their their downward trend-lines. Would be nice to break out of the bear. PATIENCE. Wait for the confirmation, then ride the momo to the moon.

The 👌good thing about steem is that it goes up and down sloooowly 😪

STEEM does seem to be rising. Its getting more expensive to power up, luckily many are still early to invest today.

The Crypto Market is very hard to predict. I hope it goes up in price.


It’s tough to know how long this down-phase will last. My best guess is until May. That’s when we’ll have the big industry conference called Consensus.

The Consensus conference has typically been a period when we’ve seen a lot of new big money enter the space. In the coming days, I’ll go into what I think will be a big announcement at Consensus that will drive the crypto market’s next up-phase.

For now, be patient with the market. And remember how the tech space acted between 1990–2000. Every pullback&—no matter how steep or how long&—was followed by higher highs. I expect the same to be true in cryptos for many years to come.

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It is definitely on the way back up.

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Great to see that strong support area. The rate at which the number of users is increasing would also create a larger demand especially when the cryptocurrency market recovers. $50 by the end of 2018? hmmmm

Would be great, looking at the graph your prediction seems accurate. Any projections or eductex guesses for end of Feb?

You have a good point in here. Your analysis is matched with the right chart and tool and it is clear that the bottom is already reached. I agree with you that anytime Steem will rise again.