STEEM (STEEM/USD) Analysis
Is it time to buy into STEEM? The last few days STEEM has been hit hard and reaching lows not seen for a long time. Such is path of most young cryptocurrencies, especially STEEM. However, looking at the chart, we can see on the Daily, that there is good support at 0.745, it appears we got a bounce off of this support. How strong that is remains to be seen, but if we break through two resistances of 0.922 and 1.008, we could begin to see STEEM climb once again. Looking at the RSI/Stoch also, we can see that STEEM is at points where a bounce is likely. Look for a trendline break, then possible to 1.656.
** DISCLAIMER ** The information provided is my own analysis and should not be taken and is not given as any form of financial or trading advice. Any trade, investment or decision based from this information provided to you, is as is and I cannot be held responsible for any decisions you make from this information. DO NOT RISK what you cannot afford to lose. Trades can result in losses that are more than your initial stake. Seek proper training and paper trade before you use real money. Should you be interested in Technical Analysis, please look at my other articles on them.