RE: Steemit Crypto Academy Contest / S7W4- Cryptocurrencies continue to recession or rebound in 2023
Assalamualaikum Hammad Khan,
I hope that you will be good and enjoying the time with the grace and blessings of Almighty Allah. Khan Sb, you have presented a very good post and I really appreciate your efforts while creating this article.
You are right that it is very difficult to predict the upcoming moments in the Crypto market because it is highly unpredictable and highly volatile market.
The RSI line is between the 50 to 55 range which is the indication of a neutral market state and it can move either ways. We just have to wait and watch.
From the MACD indicator, we can actually predict that the balram is coming as the MACD line has just crossed the signal line from bottom to a uper side so this is a signal of the bull run.
As per your analysis, this year is going to be a very successful year for both STEEM and TRX tokens. I agree with you here as well.
Thanks for sharing your precious knowledge and good luck for the contest.
W-sallam Dr Shb,
Thank you for your kind words and for taking the time to read my post. I'm glad to hear that you found it helpful and appreciate my efforts. The crypto market is indeed volatile and unpredictable, which makes it challenging to predict future trends. However, analyzing technical indicators such as RSI and MACD can provide some insights into market trends.
I'm glad you agree with my analysis that this year could be a successful year for STEEM and TRX tokens. I will continue to monitor the market and keep everyone updated with the latest developments.
Thank you again for your support, and may Allah bless you.