The STEEM chart looks like its setting up to take out those old highs
STEEM has been chopping around a bit as of late, but when you zoom out and look at the daily chart, there is a bit of a trend.
It looks like the chart is setting up to take out those recent highs.
Check it out:
(Source: https://www.tradingview.com/chart/?symbol=BINANCE%3ASTEEMUSD)
We had a higher low on this most recent pullback and we have a MACD that has crossed over into bullish territory.
When you factor in the fact that the highs were pretty much around the same area and it looks to be creating a very large inverse head and shoulder pattern.
The projected move is the length from the head to the shoulder dip, which is at least $.60.
When you add that to the high of around $1.40, we are looking at a move to $2 in the next several weeks.
I think STEEM will hit $2 at some point in May, and probably hit $3-$4 by the end of July.
Buckle up!
I'm really surprised how Steem was able to retain its dominant spot compared to Hive. Hive took the general english speaking community, they also took tokenization, yet Hive hasn't been able to breach the top 200 cryptocurrencies rank in the last few months. Steem's demand continues to rise even as new users step into the ring.
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Needs to hold $1.
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Steem has tried the $ 1.44 resistance multiple times but has had a hard time breaking it. The harder the breaking threshold of a resistance, the greater the price increase. Steem can go up to $ 2.60 within 1 month.
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Yep, well said, and I agree. The resistance gets weaker each time it is tested... I suspect the next test sees STEEM blow right through it.
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i agree with you, steem will row more.
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