STEEM has finally fell below the 3.08 support level yesterday. There is a new low formed at 2.50, a known support level that I have marked down on each update for a while.
The price now lies at 2.59, and I am expecting STEEM to consolidate in between the 2.50s and the 2.70s again for the remainder of the day.
We are oversold on the RSI currently, and if you notice every time this happens we see some form of a bounce from the bottom. With that being said, whether it'd be today or in a few days, 2.50 can be considered as a decent entry for a short-term swing trade to 3.00. If my prediction is invalidated, I will look for 2.00 as the next level to watch.
The 100 EMA should have a crossover once we break over 3.00, but for confirmation of a short-term bullish uptrend I am looking for a 3.50 break, where the 100 EMA lies.
Disclaimer: (I am not a financial advisor, do your own due diligence when investing in cryptocurrencies. This is just my speculative opinion.)
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