1 STEEM = $0.46 USD -- Will it fall more and more?
(Charts by TradingView)
Since mid-October, Steem alligator seems to have slept around $0.6 until about November 20. It then spiked up to over $0.7 in late November. Then it experienced a sudden price correction until today.
Next, the MACD (Moving Average Convergence Divergence) oscillator seems to be in a bearish position. This implies that the price of this asset is falling.
Meanwhile, the Stochastic RSI (Relative Strength Index) oscillator seems to be in an oversold area. This indicates that the market price of this asset is below its intrinsic price.
On the other hand, in the graph below we can see that the price of Bitcoin initially rose rapidly, then corrected, and then suddenly fell today. Bitcoin price fluctuations are usually followed by all other altcoins.
At this time, the alligator's mouth appears to be wide open in a downward direction and shows no sign of closing yet. Will it fall more and more?
Let's continue following the adventure of this Steem alligator.
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