This is just a rough estimate but I believe Steem will be oversold if it goes below $0.17 USD.

The head and shoulders pattern found on the logarithmic chart marks a low target price of $0.25 and anything $0.16 or lower places Steem at a market cap of less than $50 million.

When I traded penny stocks in the mid to late 2000's, some of the stocks I was trading had a market cap of $50 million to $200 million and these were pretty much sham companies. That leads me to believe that buying in at Steem for $0.16 to $0.17 would be an absolute steal.

I am not sure if it will go that low but if it does, there is a good chance I'll be able to purchase some Steem close to that price since I am buying a little bit of Steem every month at a level that is comfortable for my family and I.

I am not sure about this since anything can happen and I could be wrong, but I tend to believe that the head and shoulders pattern will complete itself and that Steem will head towards $0.25.

P.S. I would be happy to purchase Steem anywhere in that territory though, even if it doesn't fall to $0.16 USD.