Moving Charts: STEEM Prices Analysis | 10% To @tron-fan-club
Hello and good evening to everyone at the Tron fan club. The market has rather on a fall for the past few weeks. We have seen most tokens lose valuation. Steem can be seen as one of them. Today we will see steem price movements and reflect on how it has fared.
The week started with Steem falling to the support level (0.271$) shown above. Steem bounced off from this level several times, showing strength. But, eventually, it got weak and started going down, falling through the level.
After falling through the support, it quickly came down to 0.26$. After which, it started going up slowly but steadily. Thus, Steem created a bullish trendline. But unfortunately, it lost the trend and so, had a fall. This trendline is now a resistance for Steem.
Although losing the trend, Steem was actually following another trendline (shown above). Steem is still following that trend. There is now the strong support of 0.26$ below. Steem needs to break through the strong resistance zone at 0.279$, with a successful retest.
All Screenshots are taken from Coingecko
After experiencing a few good weeks, Steem is currently showing bad performance. It is down 4.3% in a week, which is very unfortunate.
No word from this article should be taken as financial advice.
Thank You.
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