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 decline for the past few weeks. We have seen most tokens lose valuation and gain back only part of what they lost. This downturn has been threatening for many cryptocurrencies in the space. Steem can be seen as one of them. It barely sees any uptick in prices and, thus is low in value. Today we will see steem price movements and reflect on how it has fared.

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Right out of the gate, we can that last week Steem was trying to breach the 0.22$ resistance. But failing to do so. As the reversal kicked it down to 0.217$. There was another attempt at a breakthrough, but simply because many people are banking on this resistance margin, it is harder for Steem to break. This time steem posted an even lower low at 0.214$. But after the third attempt which is visible in the chart above, steem couldn't keep pace and crashed.

The crash was also facilitated by the market-wide downturn led by BTC. So after steem tried to break the 0.22$ resistance for the third time in the space of 5 days, it lost a lot of momentum. The rebounds piled up. Steem went all the way down to 0.20$. The support margin. It was somewhat staying afloat thanks to that buffer.

Then since yesterday, we have seen some positives. Since yesterday the market has seen some uptrend across the board. And steem was quick to pick up. This helped steem go up to 0.214$. If the trend stays a few days, we can expect steem to go again for the 0.22$. It currently trades for 0.212$.

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All Screenshots are taken from Coingecko

Steem has been going through a bit of a rough patch lately. After being consistently on the high for the past few weeks, there's been a fall since last week. The market isn't being kind to ALTs either.

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

Thank You.

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