STEEM - Major Support Level

in cryptocurrency •  3 months ago

STEEM Price Key Highlights

  • The price have been moved sideways the last 4 days and is finding it hard to hold a major support at $2.2 against the US dollar.

  • If it breaks through the support level, it's a really bad sign.

  • I think the price will be for some time in the consolidation area.

  • The price has to break the key resistance before we can confirm a bullish trend.

I see this price as a really good buying opportunity. Longer term I see STEEM taking off like a rocket. I do believe that it is well within reason that STEEM reaches $10-15 or highere by year end.

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I’m not too upset if we go lower for another couple months. Anything under $1 would feel like hitting the jackpot for me. Gonna be interesting to see how the rest of 2018 plays out. Thanks for the post!

It is a great time to buy some cheap steem!

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Buddy, I remember when it was 10 cents a steem, those were the days...

Also you could take the subway for a nickel and the movies cost a dime

I had a similar observation, it's nice to see it validated by someone with more experience! I had been waiting for a good opportunity to grab more STEEM so this has been great for me! Thanks for the analysis!

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Agree it’s a good opportunity to buy more

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I do have the same view as well
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With this! Let me HODL and also buy more steem and power up. Thanks so much for the updates @tradewonk.

Patience pays though it pains to wait.

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I'm thinking to sell all BTC and go deep into Steem. It's about $300 but If Steem goes back to $5 I double my money. Not sure yet. I believe more in Steem than BTC.

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Hey @stadex, I'm definitely bullish on STEEM long term, but that might be a bit risky. My personal opinion would be to hold about half BTC and half STEEM. BTC is widely regarded to be one of the safer crypto bets (if there is such a thing) and diversifying can save you a major headache later. I previously had more than 2x the amount of BTC to STEEM but I did convert some over to where I'm about 50/50 now.
That being said, I'm someone who is relatively risk-averse, so if you are willing to stake all $300 on STEEM's potential breakout value more power to you! In any case, we're both rooting for STEEM to succeed here! Best of luck!

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decision with caution, 50/50 however I think it is very tempting looking that steem can have a very high rebound ,,,, and those $ 300 can take you to $ 1500 or more ,,,

I see your information and it is encouraging to think about the rise of steem, but I think the process is a bit slow, the crypto are going through one of their worst moments, but also with their biggest growth, I mean they are going to descend even more the crypto ,,,, I hope a rebound at the end of 2018 ,,, greetings @tradewonk

Great time to HODL or Power Up -- bargain basement prices. Does test one's own belief system around cryptocurrencies in general and in STEEM in particular. For me as a new Steem-er, I really like the fact that there is a real backing for the STEEM -- the collective intelligence of well-crafted posts offering knowledge and entertainment. What a win-win -- and the STEEM eco-system offers opportunities for anyone wishing to become involved in the cryptocurrency ecosystem -- what a wonderful way to be able to 'earn' cryptocurrency without massive fiat currency investment unless one chooses to do so. My advice to all newbies [such as me] is to learn the STEEMit value proposition and all its nuances and then get involved. You will gain both financial and personal rewards in doing so. Very satisfying and very innovative!!

To be honest things don't look good for STEEM in price. If we brake 2.20$ next support is at 1.40$. Also we are below all major moving averages, especially the 200-day SMA.

To be honest the price of Steem is very correlated with the price of BTC. And BTC looks like it's going down. I made an analysis yesterday on BTC, I would be glad to receive feedback on it from you. See my article HERE
Thanks for the update. :)

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I’m on the phone now, but if btc price continue down, then it might retest $8000 which is a major support ( 6500-8000 ) as it is on steem, and from there continue highere. But i will make an btc Update tomorrow.

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The roof the roof the roof is on fire we don't need no water let the motherfucker burrrrrn.
🔥🔥🔥🔥🔥🔥

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Cool ! I think today we break the 200 SMA and we will make a move downwards to test the 8400 and then the 6000

Steem was pumping just now when BTC was dropping. Steem is looking so bullish.

after btc stable it will hit the moon

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Most cryptos are acting similarly - slowly bleeding out. I don't see an end to the slow period for awhile - possibly a couple of months. Hold the line, last year, the majority of the rise started in November so there could be more painfully slow action to come.

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It seems like November 2013 and 2017 where really good months... perhaps we will have to wait for November 2021 if people are as slow as always in understanding blockchain technology...

But perhaps we are lucky and history does this time not repeat itself...
https://steemit.com/steem/@mexbit/steem-is-back-a-the-same-valuation-it-was-when-it-just-started-in-july-2016

After double top pattern, BTC is going down for the past 6 days. If BTC recovers, we can hope that SBD also may recover.

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thanks for update steem news.
thanks for sharing.. @tradewonk

Steemit is the prospective website and it will not have to die.

yes you are right, if it goes down after this resistance level, sign of worry for all of us.
Hope it will go up now.

Agree it’s a good time to buy more :)

This is probably best time to buy STEEM.
Thanks @tradewonk for the best analysis and showing exact hard support value at $2.2 👍👌

I think it is a good idea to go into a coma until the end of the year...

Here a take on what it used to be 2 years ago:
https://steemit.com/steem/@mexbit/steem-is-back-a-the-same-valuation-it-was-when-it-just-started-in-july-2016

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i feel the same way about it brother

What is your belief of STEEM price based of? Why 10-15?

If it Continue this resistance, may be we will have some good news.

This is a tempting time to get in when the prices are so low yet it is also incredibly dangerous. Essentially we are all just gambling so best of luck.

Lets all pray! sbd for life holmes😂

thanks for update steem news.