The price of steem has had quite the move over the past week and now finds itself pushing up against the prior upside resistance - let's breakdown the price action!
Steem Pressuring The Range High
Over the last three days steem has been pushing up against the $4.50-ish area that represents the top of the range we are in and marks the high of a prior bounce.
The good news is after testing it three days ago and then bouncing off it to close lower yesterday, we are not seeing follow through on the downside today.
In fact, steem price has rallied to test the resistance area again.
Ideally, we want to see steem close above $4.55 on today's daily candle (closes in 2 hours from this post).
Price Action Going Forward
Obviously if price can establish above that $4.50 area then we have essentially LEVELED UP!
The good part about that would be upside potential becoming the $6.50 area.
If for some reason we cannot establish into the new range then downside risk is the mid $3 area.
Those are both the initial targets, secondary ones would be $8+ and $2.60 on the up and downside, respectively.
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Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.
Free e-book: ScaredyCatGuide to Knowing What the Heck Bitcoin Is
Best Regards,
Disclaimer: All info in this post is my opinion and for educational use.
steem wil lbe alltime high soon
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It's pretty awesome to see it going up. Wonder how big the gap between Steem and SBD will get?
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Why do you look at the GAP between Steem and SBD? I never thought to do that....just curious.
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Yeah, I was gonna convert some sbd into steem today and was like....damn! $1.21 conversion. Ouch!
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Hi scaredycatguide,
I noticed that BTC is down the past 24 hours but Steem and SBD is up....is there real reason for the opposite move?
Normally, I thought Steem and SBD follow the same directions as BTC up till this week....what is going on?
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No coin is perfectly congruent with the price action of BTC each day, on a longer term view most take their direction from BTC but there is not a perfect correlation. Look at EOS as an example right now, ripping.
As for steem, it has a catalyst. Was added to Hoibu exchange yesterday.
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Not able trade Steem yet on Hoibu...some are saying it is rumor that Steem is actually added to Hoibu...comment?
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Could be a rumor, either way it's a catalyst. "Buy the rumor sell the news" is a long-time mantra in the investment world.
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Just to chime in - Here's a screenshot from Huobi's exchange giving notice of Steem trading starting today 28th ..
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Awesome @steemmeupscotty (great user name!) Thanks for the confirm!
@hanamana there is your answer sir :-)
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No worries 👊
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prediction of future values with technical analysis for wide selection of digital coins like Steem. If you are looking for virtual currencies with good return, STEEM can be a profitable investment option. Steem price equal to 4.507 USD at 2018-04-27. If you buy Steem for 100 dollars today, you will get a total of 22.189 STEEM. Based on forecasts, a long-term increase is expected, the price prognosis for 2023-04-20 is 10.729 US Dollars. With a 5-year investment, the revenue is expected to be around +138.06%. Your current $100 investment may be up to $238.06 in 2023.
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Thank you very much. Very very happy.
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Steem has held onto $4.60 for a while now but we would still have to wait a while longer.
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I'm just glad we are above $ 1 Dollar. It was there for so long. 6 to 8 sounds gitty to me, I'll be happy at 3 for awhile. :-)
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informative for new users like here, ty
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i will place my bias in this analysis
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