Where will this dump end?

Assalamu Alaikum friends,
STEEM is currently going through a tough time in the cryptocurrency market. If you look at the chart, you will see that it is in a long-term downtrend or 'continuous dump'. The only question on the minds of investors is when will this decline ever stop?

According to the chart shared above, the STEEM/USDT pair is currently trading around $0.051. The one-week candlestick chart shows that it has been consistently breaking its support levels and moving down. The moving averages (MA 7, 25, 99) are well above the price, indicating that there is a lot of seller pressure in both the short-term and long-term.

The Steemit platform's decline in popularity and lack of new major updates is a major reason. When Bitcoin or major altcoins are volatile, smaller projects like Steem often suffer from large sell-offs. On the chart, we see red candles forming on high volume, which means that large holders may be exiting their positions.

The price is at a level where it is currently at, in technical terms, almost like an 'abyss'. There is no strong historical support below. However, some signs are needed for the dump to stop. When a green candle appears on a very large volume and the price goes sideways. The price needs to hold itself at least in the $0.045 - $0.050 zone. If it breaks, the fall could be deeper. According to the current chart, it is quite risky now. It would be wise to wait for a trend reversal or market stabilization before taking a new entry.