Update #76: Writing Expedition ✍️|| Crypto/Technology : Mid-week Steem/Usdt Highlight
Hi Steemians! Welcome to the second edition of the Mid-week Steem analysis anchored on the #76 Writing Expedition, on Crypto/Technology.
Today, steem is trying to recover from its past days losses. The sellers and buyers are battling to see which could dominate the market. Let's go on to see what has happened to steem this three days.
Today, steem continued its 4th day fall in the market. Steem has fallen from its high of 0.1923 it closed on Saturday 25th August 2023 to a low of 0.1649.
Today 4th September 2024, the steem/Usdt trades at 0.1608 as at the time of this post and having a 54% bullish market dominance with 46% less bearish sentiments. The highest quantity bought within this time is 119, 407steem and the highest quantity sold is 45,378 steem. These figures indicates more bullish dominance today.
From the chart above, steem has lost 0.0066 steem in the past three days reflecting a 3.9 % fall although it is currently rising. The RSI remains low at the 42 band line.
The Stoch RSI indicator is at 0.00 far from the 50 line level .
At the price of 0.1606, the exponential moving average EMA 7, 14, and 28 EMA has widened. We would be expecting a bullish or buy signals if the EMA7 crosses the 14 and 28 EMA. The confirmation of the bullish signal would be to expect the Stoch to break the 50 band line and then the SAR line coming below the price chart.
The SAR is currently above the price charts signaling bearish sentiments. The 7 days EMA has cross over the 14 and 28 EMA which is a confirmation of the bearish trend.
Buyers would be looking out for these signals in line with other appropriate technical tools, to make a bullish entry.
This is it for this week's Crypto/Technology . Do have a wonderful returns for the rest of the days in the week.
🚀 What an awesome analysis, @steemian! 👍 Your dedication to breaking down complex market data is truly appreciated! 💯 I'm loving the visual aids you've included - they make it super easy to follow along and understand what's going on with Steem's prices. 😊
What are your thoughts on this recent dip? 🤔 Do you think it's a buying opportunity or just a minor blip on the radar? 💬 Share your insights, friends! 👇 Let's keep the conversation flowing and learn from each other's perspectives.
Also, don't forget to show some love for our amazing community by voting for @xpilar.witness (https://steemitwallet.com/~witnesses). Every vote counts, and with your support, we can continue making Steem an even more awesome platform! 🙌