Promoting Steem on Twitter. Today Topic Steem Price Analysis 22.12.2019
All of steemian include me are very happy to see slight pumping in steem/usd chart.Some people say it is happen cause of some rumor.But personally i think new investor join with us, so price was pump slightly.
Steem rank 78th now based on total market capital(source:coingecko)
total supply 367 million
circulating supply 324 million
current daily trading volume of yesterday was above 8 lakh usd.
Steem All time high was 8.19$ in january 2018
Steem All time low was 0.07 in mar 2017
Total Market capital above 45 million dollar.
I share my last analysis about steem 22 days ago.That time steem rank was 85th.So, rank increased slightly.
This is my previuous article about analysis of steem.
https://steemit.com/cryptocurrency/@shharafat/steem-coin-price-challenging-resistance-price-will-increase-soon
Technical Analysis
Most of the forex and stock trader trust technical analysis most.Some of them do not rely fundamental.But i always follow both of them.A Fundamental news can finish a trend completely.If market always follow technical analysis then a trend never be finish.
Monthly Chart
Monthly high 15 cent at 15 november
Monthly low 10.15 cent at 25 november.
so, we can say 10.15 is the recent bottom.Now price is 13.99 cent.Price is stable from recent low.This is not my point i want to look back to market capital.How it is changing to positive bias.
Market capital in Monthly chart
here in 25th november steem market capital was above 33 million dollar.Monthly lowest.
In 29 november steem market capital was 49 million dollar.Monthly high.
Now market capital is above 45 million dollar.
For instance, market capital also uprising and below monthly high.
Both are positive things for steem.
This is better look of steem monthly chart.Here you can see price was between 10 cent to 15 cent in last 30 days.
Moving average and Oscillator in Monthly chart
In this photo moving average and oscilator both indicate for selling.This is the difference.Because it is also monthly chart.But positive price bounce is not so much stable to open buy now.So, they are waiting for price stable.If the price cross recent high 15 cent then moving average would be indicate for buy.Until that moment it is risky for open buy in day trading.
Weekly Chart
Weekly chart indicate a sideways move.
weekly high 14.62 at 20 december
weekly low 11.62 at 18 december
Both are happen last 3days.So, it is clear bounce from higher low price.Still now it is not stable price.We have to look next 2 week.If price stable above 14 cent then moving average will be high.They we can say it is time for buy.
Market capital in weekly chart
Weekly high above 47 million at 20th december
weekly low near 38 million at 18th december
we can notice here market capital jump huge because price pump from recent low.
Moving Average and oscillator in weekly chart
Here we can see moving average indicate sell but not strong sell.9 indicator indicate sell 5 indicate buy and 1 neutral.
Oscilator indicate neutral.This chart is showing slight positive view.
Price is building positive momentum.But still we can not say bullish momentum come strongly.We have to wait for next clear view.
Steem Daily chart
I do not how many steemian doing trade daily.But last 2 day is good for daily trader.Honestly i have fear about price bottom.I thought recent down can break 10.14 strongly.That is not happen.
Today high 14.69
Today low 13.78
I notice at daily chart, today volatility is very high.May be it will touch 13.25 before next up move.Correction is going on.At first it can touch lower high.Then it may go to higher high or higher low in daily chart.
Market Capital in Daily Chart
Look at daily chart.How the capital decreasing right now.May be it is false move or fake move to attract seller.I must say in here also we have to wait for stable point.Volatility is high.So, price can not stable enough.
Moving average and oscillator in daily chart
See here all indicator and oscillator both indicating strong buy.In forex day chart is not so much risky.But in crypto day trading is very risky.As a forex trader i have seen day chart is good for medium term and long term trader.
Fundamental Analysis
This is my favorite analysis.Most of the time i rely on fundamental.At first we have to know which type of news recently going on about steem.
I heard justin sun(Founder of Tron Network) wanted to buy steem.This now published online at 10th december.After that no news about it.That time it was positive news for steem.Now i assure to you it was a rumor.This rumor spread by twitter.
Another news is steem media token (SMT)confirm coming at january 2020.It must be good news for steem.
Finally i want to share my opinion about steem trading.Market is not ready for buy.Yes it bounced from lower high bottom but price is not stable above 14.We have to take time for open a buy.Most of steemian invested on steem.I also invest.It is better to hold your coin.
I am waiting for to see steem on moon.It can touch again 8$ or 80$ also.But need time for that.It can take 2 years or 4 years, who knows.
All screenshot taken from
https://www.coingecko.com/en/coins/steem
https://www.tradingview.com/symbols/STEEMUSD/technicals/
https://coincheckup.com/coins/steem/charts
I am promoting steem on twitter.Not only me, i have seen so many steemian promote steem on twitter.I also promoting steem to another 6 social media platform.
Our motto is
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Find this article on twitter with tag #steem #posh #steemtweets for promoting steemit to other social media.
https://twitter.com/khokand26318088/status/1208471033075949568