- The STEEM token is trading at $0.294, observing a surge of 19.22% in the last 24 hours.
- The token made an immense bullish move in the last 5 days.
- Its price is presently getting rejected from the resistance level of $0.313.
The STEEM coin started a bullish move on 20th Oct. It was trading at $0.180 from where it has now reached an upward level of $0.313, giving an approximate 76% return. The performance of the token has resulted in 23.78% ROI in 3 months and 31.17% in the last 1 month. The price is presently moving above the 200, 100, 50, 20 day EMA which indicates a bullish trend of the price.
The token might get up to $0.35 to fill the liquidity made on 6th April 2023. Its volume is still rising and that means that bulls are still in action to take the price to the upside levels.
The token marked an all-time high of $8.57 on 10th May 2021. It is 96.99% down from its all-time high bringing it at $0.294. The market cap of the token during the high was $1.72 Billion.
The daily trading volume of the token has increased by 97.31% in the last 24 hours. The current circulating supply of the token is 446.95 Million. It has a current market cap of $127.87 Million.
Sentiment Analysis
Followed by a massive increase in the total volume by 1271% in a week, the price surged by 60.946%. The bullish sentiment metric surged by 123.9% as the price gave a bullish move. The social engagements also grew by 327%, which shows the activeness of the social community. Overall sentiments indicate a bullish trend for the token.
Technical Analysis Of STEEM Token (Daily-1D)
The STEEM coin price is presently in a skyrocketing bullish trend, making new highs. It is getting rejected from the resistance level of $0.313 and coming down for some correction move.
Its price can come down till the support level of $0.240 to $0.254 and consolidate there. It can give the next bullish move only if the market stays bullish. The resistance break of $0.313 is essential to reach the level of 0.353.
Suppose the market gets bearish and the volume starts falling, the price can break the support levels of $0.240 and $0.254. The STEEM token price might get bearish again and reach the downward support level of $0.215 to $0.226 or further.
Indicators on the Price Of STEEM Token
Relative Strength Index (RSI)
The RSI line is moving at 86.78 points and the SMA 14 at 64.64 points. Both are above the neutral level. The RSI is presently under the oversold region and the selling pressure can be placed on buyers. Coin’s price can come down for a correction.
Moving Average Convergence/Divergence (MACD)
The fast blue line moving average is moving above the red slow line moving average. The histogram shows significant upside increases in the volumes which shows that the token’s volume has a massive rise and the price can move bullish further if the volume keeps on increasing significantly.
STEEM LIVE CHART
Conclusion
Presently, the STEEM price is in a bullish trend. It is coming down from the resistance level of $0.313 for a correction. Post correction, the price can continue its bullish movement if the market goes well. However, if the market gets bearish and the price breaks its support level of $0.240 to $0.254, the price might fall and get bearish again.
Technical Levels
- Support Level: $0.240 to $0.254 and $0.215 to $0.226
- Resistance Level: $0.313 and $0.353
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.