As of writing steem is $1.70 on coinmarketcap.com which is the highest i have seen Steem in a long time, i have been paying attention to the price fluctuations of Steem and it more often than not; pulls-back from these levels. Below is the daily timeframe, we see a wedge forming where a lot of sideways movement has been taking place, we can also see a level of resistance from the horizontal line, the RSI is neutral so seeing a solid break out from this wedge could indicate further movement in the respective direction.
Daily Timeframe
Below is the weekly timeframe and it tells pretty much the same story as the daily timeframe, with the neutral RSI and and nearby support and resistance we can only look for decisive break-outs, this may or may not happen and more sideways movement could be on the menu.
Weekly TimeframeAnother thing that can cause the price to fluctuate is the amount of powering down going on there have been many high profile Steemit users (or whales) powering down and this will put downward pressure on Steem however fundamentally Steem has a bright future in my opinion and we could see popularity explode which could cause the price to moon.
oh wonderful.. hopefully it will cross $2 before this month
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Fingers crossed 🤞
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