After a strong up-movement, Steem is following again a long-term downtrend that started at the beginning of the year.
The downtrend is graphically represented by a channel. Last 5 candles have been red, pushing the price to the bottom of the channel and giving strong signals that the price could go even lower than that.
Should we expect an inversion of the trend? I don't think so. For now, all the signals point to one direction: Steem is going towards $1.
Indicators also agree with the bad period for this cryptocurrency.
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@forex-intraday great stuff I like your analysis I believe its gonna tough @1.1 then if any bullish sing appear will buy it
Thanks for sharing your opinion. I think that we all hope that Steem will go up. Let's see what happens :)
Good luck!
I am grabbing up 500 of them when it hits $1. Looking forward to it! I didn’t think we’d ever see $1 steem again just a few months ago.