Where i see Steem Price :: Market Analysis for 08/07/2017
Steem price has been going up continuously before couple of months, recently we have seen some down trend that goes from it's top 0.00095000 (it reached around $2.78 in some exchanges) that i couldn't hold it any more and Start to decline from Mid-Jun to First week of JulY.
Please check the graph above, as we see there is some support level forming right now that is trying to break it, which is the same level that has been a resistance before.
Well what's next?
Actually we need to see the movement in the weekend along with the start of the next week. As the most obviously i will stop the down trend and form a new reversible up trend.
Steem price actually is in it's lower price for around 1month which is i see it a good point that you can get right now steem with a lower price 0.00061690 (Around $1.51).
Take it as a good point and load more Steem and SteemPower to your account.
NB: My Current speculation for Steem price by the end of this year will be at: $4.50 /Steem. (This is not an investment advice and i might be wrong sometimes).
Thank you
Have a good day
Oussama.
I agree with you $3.5-$4 per steem. Thanks oham this the kind of analysis i've been waiting from you
Yes due to the technical analysis i did on steem i can suppose that it will reach that level from $3.5 to $4.5 by December 2017 which is x2.28 and x3 from the current market price.
Sure oham. Thanks a lot
What do you mean by "we see there is some support level forming right now that is trying to break it, which is the same level that has been a resistance before."
I am just learning and would appreciate an explanation?
Yes @masoncerritos as i explain in the graph that we have seen the level before around 0.00061690 ($1.51), And after this point we got a break down. So when it couldn't go higher than that we named it as a resistance level.
Let's call it Your home floor (support) and the ceiling(resistance).
So Steem hit the ceiling and couldn't go higher than that and then go down. And in the second time it break this level, so when it got broken it will keep up with another floor, that form a new Floor which is the ceiling from before and ceiling number 2.
Your most welcome.
Now I get it and thanks. Is good to understand that there is a value between to poles and the ceiling being the highest caused the steem value to stop raising and as a consequence it went down a bit. So what you are saying is that you expect that the ceiling level will break is the idea that the price of steem will raise higher than before creating a new ceiling level and price floor.
Do I got it?
That's it, your right! just open the chart and look beyond the trend lines.
Analysis the chart with just price action with line level, so you will get the whole view.
https://qoinpro.com/c4b2f6d48890c875a9ad6907a6400434
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Nice analysis @ohamdache, upvoted! I’m trying to start a community about stock trading on Steemit. You can join our Discord channel SteemitStocks if you want to share your post and chat about stock trading. Would you also like to read my article about an undervalued oil exploration stock?
i think that it will reach that level from $3.3 to $4.7 by December 2017 which is x2.28 and x3 from the current market price.
It will be. Don't worry just holding some Steem.
Thank you