Hello and good evening to everyone at the Tron fan club. The market has rather on a fall for the past few weeks. We have seen most tokens lose 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 gradually falling towards the support level of 0.155$. Like a knife through butter, Steem fell through the level and down to 0.145$. Soon it bounced back to the same level. But then again, Steem started going down losing strength.
After making double bottom at the level of 0.14$ in the days chart, Steem again bounced and started its upward journey. This 0.155$ zone is now a crucial resistance for it. Steem needs to break through the strong resistance zone, with a successful retest. There will be 0.18$ zone ahead of Steem after that. As there is a bearish trendline above Steem now, it needs to break through that also.
All Screenshots are taken from Coingecko
After experiencing a few good weeks, Steem is currently showing mixed performance. It is down 13.6% in a week, which is very unfortunate.
No word from this article should be taken as financial advice.
Thank You.
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Moving Charts: STEEM Prices Analysis is a great article you have shared.
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