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.

Source 1 Source 2

Steem was 0.173$ per coin just seven days earlier. The week started with it going up to 0.176$ and instantly falling back. Then it hovered around the 0.172$ level for a day.

The support line at 0.172$ was very much strong. So, Steem started to go up again. Before the start of the week, a bullish trendline was formed (shown above). This played significantly for Steem's movement. Steem, gradually, started to gain value. However, soon it got rejected at 0.182$.

The rejection was very strong. Hence, the fall was very sharp also. Then it started to hover around the support level at 0.172$. It bounced several times from that level. But ultimately it lost the support and currently its just under that line. There is a bearish trendline formed which, if broken, can fuel Steem to move upwards.

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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 0.17$-0.185$ range for a while.

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

Thank You.

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