Steem has been in prolonged bear market with all other coins in the market. Nothing much has changed in steem fundamentals, only changes are positive which are in shadow due to this crypto winter, now it seems crypto is rising again and steem will be no different.

Technical analysis of steem.

• Price in strong resistance
  There are 2 strong resistance in price of steem, one is at $0.24 and another at $0.8. If we can go above $0.26 and maintain it for some time we can easily reach $0.8 where there is a major resistance.

• RSI bullish
  RSI (the red line in bottom of the chart) is bullish. It is a very strong indicator which shows the strength of the market. If the strength is bullish but price is not moving with it, it means price is preparing for a bigger move. RSI has been bullish since few months now.

• 200 SMA
  200 daily moving average mostly represents either a market is bullish or bearish. If price is above 200SMA the token is bullish and if it is below 200SMA it is bearish. Since 2018, steem has never been above 200 SMA for so long time. Any attempt to break and stay above 200 SMA had failed until now.

We must see a break out, most probably up, within few weeks or month. Right now defi coins are the ones which are surging, while most old altcoins are not pumping as much as defi's. But as we know crypto market, the super hyped coins will certainly loose hype one day. When defi hype ends we will see other altcoins with good fundamentals pumping, let's wait for it.

I am not financial advisor and you should not take financial decision based on steemit post, but selling steem right now seems stupid IMO. 😛