1 STEEM = $0.109 USD - Why are the technical indicators still not in STEEM's favor?

puncakbukit (78)in #steem • 10 days ago

5% of the rewards of this post are for @steem.amal

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Despite a recent uptick in value and the emergence of a bullish harami pattern, the Steem blockchain's future remains clouded by significant uncertainty. While its concept of rewarding social media contributions is novel, short-term market indicators paint a less optimistic picture. The fleeting appearance of bullish signals does little to mask the underlying fragility of the platform's long-term sustainability, especially in the face of fierce competition from more established social media and blockchain platforms.

Technically, the persistent negative ADX-DI pattern continues to signal a downward trend, overriding any temporary bullish signals. This pattern suggests that selling pressure remains dominant, and the recent price increase may be a temporary anomaly rather than a genuine shift in momentum. Even though the core mission of rewarding users for their valuable contributions is a strong concept, the technical indicators are still not in STEEM's favor.

Ultimately, while Steem's vision of a more equitable internet is commendable, it does not guarantee financial success. The blockchain's unique features, while innovative, have yet to translate into widespread adoption or sustained value appreciation. The platform's long-term viability hinges on its ability to overcome persistent bearish signals and establish a solid foothold in the competitive blockchain landscape, a feat that remains highly uncertain.

About Steem (STEEM)

Alright, let's dive into the exciting world of the Steem blockchain and its STEEM cryptocurrency!

Steem is a groundbreaking blockchain designed to power social media and online communities. What truly sets it apart is its core mission: to reward users for their valuable contributions. Imagine a platform where your engaging content, thoughtful comments, and active participation directly translate into cryptocurrency earnings. That's the power of Steem.

Here's what makes Steem shine:

Social Media Revolution:
- Steem pioneers a model where users, not centralized corporations, reap the rewards of their content. This fundamentally shifts the dynamics of online interaction.
- It fosters a vibrant ecosystem where creators and curators are incentivized to produce and discover high-quality content.
Cryptocurrency Integration:
- The STEEM coin fuels this ecosystem, enabling seamless and fast transactions.
- Steem's design incorporates mechanisms to distribute rewards fairly, recognizing the diverse contributions of its users.
Community-Centric Approach:
- Steem prioritizes community governance, empowering users to shape the platform's direction.
- This fosters a sense of ownership and encourages active participation, creating a thriving and dynamic community.
Technological Advantages:
- Steem was built to enable fast and feeless transactions. This allows for a smooth user experience, vital for social media applications.

In essence, Steem represents a bold step towards a more equitable and participatory internet. It empowers individuals, rewards creativity, and fosters strong communities. While like all crypto projects it has had its ups and downs, the core technology, and concept remain very strong.

Disclaimer: This information is for general purposes only and not financial, investment, or legal advice; cryptocurrency markets are highly volatile, so conduct thorough research and consult a professional before investing, as you may risk losing some or all of your funds.

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