Moving Charts: STEEM Prices Analysis
Hello and good evening to everyone at the Tron fan club. The market has been bleeding for the past few weeks. We have seen most of the alt tokens lose significant valuation. The war is not helping either. Steem can be seen as one of the more stagnant parties. Today we will see steem price movements and reflect on how it has fared.
The week started with Steem weakening and consolidating at the support levels. The 0.06$ mark was a strong support level. But this week it spent below that level. The movement shows that it is determined to stay above 0.06$. From the start of the week it is again down under 0.06$, but expectations are low as to whether it will come back up again soon. macro-economic predictions are not currently in favor. But it is slowly creeping towards 0.06$ again.
New Macro-economic events are causing problems in the market. Steem is currently moving below the level of 0.06$ and is currently on this region. On the upper part, the 0.07$ zone is now a crucial level for it. The trend is in decline but many assume whether Steem is fully on track or not. Steem needs to gain the strong support zone at 0.06$, with a successful retest. There will be 0.09$ zone ahead of Steem after that.
All Screenshots are taken from Coingecko
After experiencing a few normal weeks, Steem is currently showing bad performance. It is up 4.2% in a week.
No word from this article should be taken as financial advice.
Thank You.
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