STEEM showing strong support in the $.15-$.16 area...
STEEM looking like there is not much downside from current levels
Looking at a several month chart of STEEM, it becomes pretty apparent that buyers are lining up to buy STEEM in the $.14-$.16 range.
It hasn't gone much below that for months now.
That is especially surprising considering all of the turmoil that has been taking place over the last couple months.
It looks like someone or someones is supporting the price at these levels.
Check it out:
(Source: https://www.coingecko.com/en/coins/steem)
From a technical standpoint, you often see things like this before the price goes on a major run...
It looks like a rounding bottom of sorts.
Whoever is sitting on support is just collecting whatever people are willing to sell, until eventually the sellers run out of whatever they have to sell.
At that point whoever the accumulators are, start pushing the price up as not many motivated sellers remain as they have all vacated.
No guarantee that is what happening here, but the chart and price action are sure looking that way...
Stay informed my friends.
-Doc
Steem is about to pump.
We're waiting for all Hive supporters to finish dumping their Steem and then Steem will go to moon and beyond...
It has certainly been holding up better than most expected. Myself included.
So far everything has went just like I said...
Where does it go next?
As far as I know, we're only half way through the dumping... When the dumping ends, Steem will go up. Like I've said before, below 0.25 USD is strong buy signal...
Yeah... they are just waiting. It will interesting to see what happens in 11 weeks. Probably sooner.
It's possible, do you think the team is waiting for the power downs to pass before they do anything with steem/steemit?
Definitely.