More gains for STEEM look to be on the horizon

While this recent pump may or may not hold, the longer term charts are starting to indicate one of these pumps will start holding.

The price has slowly been inching higher with a couple super pumps thrown in for good measure.

These pumps mostly get retraced, but the overall trend has been a march higher from the lows.

Due to this, the weekly and monthly charts are starting to look very interesting.

The weekly charts is finally showing STEEM above most moving averages for the first time since early 2021:

(Source: https://www.mexc.com/exchange/STEEM_USDT?_from=search_spot_trade)

As you can see the price has stopped going down, gone sideways, and is now starting to curl up.

This is exactly what the bottoming process looks like.

The monthly chart shows similar activity:

(Source: https://www.mexc.com/exchange/STEEM_USDT?_from=search_spot_trade)

We have a downtrend break, some sideways action, and a curl to the upside...

Similar to what we see in the weekly chart and something that is often seen during the bottoming process before a major trend change.

Given this backdrop, STEEM has all the right stuff to see some major moves higher over the coming months and possibly hold these moves for a period of time.