STEEM Technical analysis : Support broken, new lows,...

https://www.tradingview.com/x/snSMtMRe/

Today we have lower lows and a what seems to be a triple bottom. We broke the 2 USD support, the next support is at 1.3 USD and the next one at 0.57 USD.

From here we can expect the price to trade lower, I believe we should see STEEM trading at 1.3 USD very soon. Volumes are still very low at 200K USD per 24 hours.

The general trend is bearish.

Fundamentals

If we look at the fundamentals carefully we can see that less than 4000 users have accounts valued at more than 60 USD. Also if we look at the user retention we can see that less than 1500 users (removing the new accounts from the equation) are active in 24 hours. Those are bearish numbers.

We can also see that the most powerful users on the platform are powering down their accounts and taking money out of the platform : http://steemdown.com/