๐ Steem Price Analysis (May 2024)
๐ช Current Price and Market Status
- Current Price: $0.2688 ๐
- 24-Hour Change: -2.31% ๐ป
- Market Cap: $124.13 million ๐ฐ
- 24-Hour Trading Volume: $4.99 million ๐
- Circulating Supply: 461.79 million STEEM ๐ช
๐ Short-Term Analysis
- Market Sentiment: Mixed, with short-term bearish trends. ๐
- 50-Day Moving Average: Trending down ๐
- 200-Day Moving Average: Weak trend, sloping down since May 9, 2024 ๐
- Relative Strength Index (RSI): Neutral zone (30-70), indicating no strong momentum ๐
๐ Long-Term Predictions
- End of 2024: Expected price range between $0.15 and $0.39, with an optimistic scenario suggesting a rise to around $0.39 ๐
- 2030 Forecast: Potential upper limit of around $0.36 ๐
๐ Market Factors
- Market Cap and Volume: Current market cap is approximately $124 million, with a 24-hour trading volume of around $4.99 million ๐ต
- Supply: Circulating supply is approximately 461.79 million tokens ๐ช
๐ง Investment Outlook
- Short-Term: Exercise caution due to bearish trends and neutral RSI โ ๏ธ
- Long-Term: Suitable for long-term holding given modest price growth forecasts ๐
๐ Sources: