Once we have the SMT's live there will be plenty of steem power locked inot more programs so less liquid steem to go around and secondly each year STEEM increases its resistance levels. So the year before it sat mostly around the 20/30 cent now 70/80 cent so I think $1.35 is a fair price
As for external market factors we will continue to see consolidation as shitcoin projects lose investment people will look to invest in coins that have tosmehting behind it.