Moving Charts: STEEM Prices Analysis | 10% To @tron-fan-club

Hello and good evening to everyone at the Tron fan club. Another week has been passed so quickly. However, it was different than any other week. Many coins bleed badly over the last seven days. Steem was no exception of it.

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Steem was 0.163$ per coin just seven days earlier. The week started with it falling down to 0.151$ and instantly bouncing back. Then it hovered around the 0.16$ level for a while. The price fluctuated around this level for almost three days.

In the middle of the week, a bearish trendline was formed (shown above). This played significantly for Steem's movement. Steem, gradually, started to lose the support at 0.16$ level. However, soon it broke out the trendline. This break-out fueled Steem for a upward movement. But before that, a retest event happened.

After the successful retest, Steem gained some momentum. It went straight to 0.172$ and got rejected at that area. A bullish trendline, however, is still active. The bullish trendline (shown above) can provide support for Steem so that it can have another try to break the resistance. However, losing this trend may cause a downfall.

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All Screenshots are taken from Binance

With the negative vibe spreading again throughout the crypto market, a lot of coins are currently bleeding. Steem is no exception. However, I believe we will fluctuate in the 0.155$-0.173$ range for a while.

No word from this article should be taken as financial advice.

Thank You.

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