Steem kicked some ass in the beginning of the day, it was actually up 25% at one time. But then Bitcoin fell more and more and Steem lost its momentum. Here is the daily chart:
Comment: Steem fell 2% but as I mentioned earlier we were up huge due to the fact that Steem is now trading on Binance which is one of the biggest exchanges for small/medium coins. At one time, Steem was up 25% at 6,26 but that did not last long.
The low of the day was 4,20 but we have recovered since then and we are now trading at 4,90.
If we are looking at the upside, we want a daily close above 6,40 and to the downside we are looking at 3,30 which is the last peak from December of last year.
Finally I want to show you the area line chart, so here it is:
Comment: It is a little worrysome when I look at this chart, this daily descent could lead to a bigger decline tomorrow, but we will see, lets take one day at a time and carefully watch Bitcoin tomorrow.
Happy Steeming!
I hope it will go to old price in one week.
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Thanks for the summary! I just saw on my chart that since the listing on binance today the 24h volume tripled compared to the average of the last 5 days!
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What do you think an increase in the size of the Steemit community will do for the price of Steem?
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