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. Steem can be seen as one of them. Today we will see steem price movements and reflect on how it has fared.
The week started with Steem holding steady and gradually consolidating at the support levels. The 0.05$ mark was a strong support level. Unfortunately, for the next period, Steem could not gain much and stayed in a range. except towards the end of the week it saw a huge gain, but quickly died and came back to square one.
Steem is currently dumping towards level of 0.05$ and is currently on this region. On the upper part, this 0.07$ zone is now a crucial level for it as you can see that the surge stopped at 0.07$. It had created a consolidated trendline over the last week, that needs to be regained. Steem needs to regain the strong support zone of 0.055$, with a successful retest. There will be 0.07$ 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 down 0.1% in a week.
No word from this article should be taken as financial advice.
Thank You.
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