$STEEM /USDT Analysis – Binance Trading Update
Current Price: 0.2774 USDT
24h Change: +32.35%
24h High: 0.2800 USDT
24h Low: 0.2060 USDT
24h Volume ($STEEM ): 90.92 million $STEEM
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24h Volume (USDT): 22.51 million USDT
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Overview:
STEEM has shown impressive bullish momentum over the past 24 hours, with a price surge of +32.35%, taking it from a low of 0.2060 USDT to the current price of 0.2774 USDT. The token briefly touched the 24-hour high of 0.2800 USDT and continues to exhibit strong market activity.
The 24-hour trading volume has been notable, with 90.92 million STEEM tokens exchanged and 22.51 million USDT in total volume, signaling significant interest in the market. Given the volume and price movement, STEEM appears to be in a period of high volatility, with potential for further upward movement.
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Technical Indicators:
1. Moving Averages:
MA(7): 0.2525 (indicating a short-term bullish trend)
MA(25): 0.2261 (indicating a medium-term bullish trend)
MA(99): 0.2220 (stronger support in the long-term trend)
The moving averages suggest a bullish momentum across different time frames, with the price maintaining a steady rise above the key levels, especially the 7-period and 25-period averages.
2. Market Depth:
The market shows significant depth, with levels such as 0.2839 being observed in the order book. There’s a resistance zone forming near 0.2800, which was the 24-hour high, but there seems to be ample support below the current price, likely around the MA(7) level of 0.2525.
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Binance Order Book Levels:
Resistance: The price has recently touched the 0.2800 USDT level, a potential resistance zone that traders should monitor closely. A break above this level could signal a continuation of the current bullish trend.