STEEM - The support line has been broken

in #steem3 years ago

Hello all,

Here is the chart of yesterday :


Here is the current chart :


Unfortunately, with the correction on the BTC, the STEEM also broke it's support line. The difference with the BTC is that the BTC is already back to its previous level before the correction but the STEEM has more difficulties to do the same...

It is really like if our altcoins are suffering a lot from any little correction on the BTC. This is really a good period to buy altcoins because I think the difference between altcoins and Bitcoin is becoming too much important. At one moment, they will come back powerfully.

So for the STEEM, let's see if the break is confirmed. If this is the case, we should go quickly around 1.30$ et perhaps even lower... If we are able to come back upper than the orange line, nothing is lost.

I wish you massive profits,

Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.


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I guess you mention it yourself, when a supportline is broken, it normally becomes a resistanceline which needs to be broken with lot's of volume..
Not much volume in STEEM these days, guess that's why it is struggling to go back up like BTC..
Thanks for a well written usual👍

"I wish you massive profits"

We wish you massive profits as well. The future of steem is bright

Time to buy more steem. Convert sbd to steem and power up

Thanks for the news update. Seems like a lot of different crypto are all on the downturn. Not a massive spiral but a drop then a raise then a correction then a raise. I just hope my friend is doing okay. He dropped around 10 grand on various cryptocurrency (not steem unfortunately) and was saying how everything was going to the moon this summer. He said this around May. Last I heard he was kind of day trading so he wasn't HODL but actively trading different coins on exchanges on a daily basis.

That's the point where I bought more steem ;)