In most cases, when a large bull run occurs the market usually attempts to acclaim around 60% of it's value back, which can be seen as a time you want to accumulate. From the Fibonacci retracement, STEEM is currently well under this percentage, consolidating around the 78% mark, which is a great opportunity to purchase.
On the graph we have small and major resistance + support levels, follow them lines accordingly and make trades based on which one is broken. Steem has seen much higher prices in the past and we should see them again in the not too distant future.
- First target - 0.00035K Sats.
- Second target - 0.00064K Sats.
Steem's most recent high peaked around $2.52 which is approximately 35.7% lower than the currency price of $1.62, also compared to other cryptocurrencies Steem currently has a low volume of no more than $3.2 Million, the last increase had this coin at $50 Million volume. Consequently, we know that Steem has huge potential for an upsurge in price.
Yep steem is definitely recovering real nice after the crypto crash this week.Im pretty sure that the price will most definitely be surging today or maybe a few days from now,but I dont think it will see a Huge increase as of just yet...there is still a few more kinks in the road :) That $10 steem we are all hoping for will come eventually :)
Haha, I bought yesterday, I should have done more. I only just made this chart I was like damn. Yes, I definitely see $5 that will happen for sure. Thank you for the comment, Great to hear from you!
Exciting times ahead for us Steemians!
The last price surge brought a bunch of new users on board, lets hope for more of the same!
That is true, good idea! Yes, it will create a lot of attention, Steemit is growing heavily lately.
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