Update #74: Writing Expedition ✍️|| Crypto/Technology : Mid-week Steem/Usdt Highlight
STEEM/USDT
A shot from Bybit Exchange
Hi Steemians! As we are in the Mid-week and gradually gets to the weekend, it is important for us to look into how the steem is performing.
With the picture above, we could technically identify the direction our dear steem could take and then position ourselves to take advantage of whichever direction it moves.
While this is not an instruction to “buy" or “sell" steem as the crypto market is highly volatile and requires an in-depth knowledge and skills, it provides us with the information regarding the performance of steem in a short run.
A shot from Bybit Exchange
As at the time of making this post, the steem/Usdt trades at 0.1794 and having a 62% bullish market dominance with 41% less bearish sentiments. The highest quantity bought is 107, 412 steem and the highest quantity sold is 43,209 steem. This indicates that that the steem/Usdt pair could be going bullish today. But wait until we have a look at the trading chart below:
A shot from Bybit Exchange
From the chart above, steem has gained 0.0113 steem in the past three days reflecting a 6.62% rise. The RSI has moderated and remained stable near the 48.871 band.
The Stoch RSI indicator has risen to the 100 band level and remained flat.
At the price of 0.1793, the exponential moving average EMA 7, 14, and 28 seems to be converging. The SAR is currently below the price charts signaling bullish sentiments. For further confirmation of the bullish Continuation, the 7 days EMA would be expected to cross over the 14 and 28 EMA.
In the past week, steem lost value continuously on Wednesday, Thursday and Friday having recorded a cumulative depreciation of 0.1187 steem reflecting a loss of 5.29%.
Finally, we hope our steem would continue to add value if the general market condition improves.
This what I have for you all today on our Crypto/Technology for the this week.