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. The market was more volatile than ever. Steem was no exception of it.

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Steem was 0.171$ per coin just seven days earlier. The week started with it hovering around the crucial support level of 17 cent. Steem held onto this support for a while. After that, the price suddenly spiked to 0.185$.

The resistance level at 0.18$ was very much strong. So, even after the double try of Steem to break this resistance, it failed. Before the start of the week, a bullish trendline was formed (shown above). This played significantly for Steem's movement. So, when Steem got rejected twice, the fall was so much sharp that it cut through that trendline.

Steem moved around the support level of 0.17$ for a while. It even tried to pump back twice. Then it lost the support and went under the 0.17$ zone. Steem needs to break through the bearish trendline (shown above) in order to get another chance at breaking 0.18$.

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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 0.166$-0.18$ range for a while.

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

Thank You.

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