Hello there, Steemians. There is lot of carnage on the crypto market right now. There is blood on the street. But if you have any crypto in your portfolio you will probably agree with me that STEEM is doing quite well through this carnage. Here is the daily chart:
As you can perhaps see from the chart, that we are still holding 4.50 level, which is 50 EMA as shown by the green arrow. You can put in a thousand indicators, but as long as BTC stays this weak, there is limited possibility of a bounce. I am watch $8K level at BTC.
There is some good news fundamentally. Binance today listed STEEM. I think this is an important news, but we didn't see that much of an effect as we used to seeing for some new coins. Remember Binance is where is new big money is. So eventually when the dust settles, I expect to see big volumes coming from Binance. This will help support higher prices for STEEM.
Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Advisor. Consult professionals for any financial, accounting or legal related questions you have.