With the crypto dump happening the last month, Steem has been affected more than other cryptocurrencies. It stood at around the 30th spot on CoinMarketCap, but now it just went outside the top 50! I am not here to discuss the fundamentals behind this drop, as there are other people way more qualified than me to do so, but what I do see is the chart and interpret it from a technical standpoint.
The thing is, when Steem was chilling at $0.80ish, it was important to not break down, as it was the last support area in a very, very long time.
Unfortunately, the general market crash caught Steem in a weak area, and an accelerated dump followed.
What I want YOU to be aware of, and to prepare accordingly, is that the next support area is still a way to go. As long as the market doesn't swing out of the bear, there is a real possibility we'll soon see Steem in the $0.10s.
If this happens, DO NOT PANIC! Steem isn't going to zero, Steem is not a useless shitcoin, Steemit is not shutting down. It is just a technical drop that makes perfect sense on the chart. Hell, we may even see Steem at $0.07 if Bitcoin does indeed go as low as <$2000 as some bears say.
If you believe in this platform and what the Steem blockchain represents, just hold onto your fiat and scale in as we approach the support area.
Thank you so much for sharing this amazing post with us!
Have you heard about Partiko? It’s a really convenient mobile app for Steem! With Partiko, you can easily see what’s going on in the Steem community, make posts and comments (no beneficiary cut forever!), and always stayed connected with your followers via push notification!
Partiko also rewards you with Partiko Points (3000 Partiko Point bonus when you first use it!), and Partiko Points can be converted into Steem tokens. You can earn Partiko Points easily by making posts and comments using Partiko.
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Congratulations @vladontheblock! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word
STOP
Do not miss the last post from @steemitboard:
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Thank you so much for sharing this amazing post with us!
Have you heard about Partiko? It’s a really convenient mobile app for Steem! With Partiko, you can easily see what’s going on in the Steem community, make posts and comments (no beneficiary cut forever!), and always stayed connected with your followers via push notification!
Partiko also rewards you with Partiko Points (3000 Partiko Point bonus when you first use it!), and Partiko Points can be converted into Steem tokens. You can earn Partiko Points easily by making posts and comments using Partiko.
We also noticed that your Steem Power is low. We will be very happy to delegate 15 Steem Power to you once you have made a post using Partiko! With more Steem Power, you can make more posts and comments, and earn more rewards!
If that all sounds interesting, you can:
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Congratulations @vladontheblock! You received a personal award!
Click here to view your Board
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Congratulations @vladontheblock! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
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