#CryptoMarketDip 📊 Technical Analysis for $STEEM

/USDT on Binance 🎯

Current Price: $0.2912 (+4.52%)

24h High: $0.3147

24h Low: $0.2764

STEEM/USDT is showing bullish momentum, reflecting a potential breakout from recent consolidation. Here’s a detailed analysis and key targets:

Market Analysis

1. Support Levels:

$0.2764: Strong 24h low support. A breakdown here could lead to further downside.

$0.2500: Key historical support; breaking below may signal bearish sentiment.

2. Resistance Levels:

$0.3000: Psychological barrier and intraday resistance.

$0.3147: Current 24h high. A breakout could trigger a rally.

Target Levels 🎯

1. Target 1: $0.3200

Near the 24h high, this represents a short-term bullish breakout zone.

2. Target 2: $0.3500

Medium-term target aligned with previous highs and Fibonacci retracement zones.

3. Target 3: $0.3750 - $0.4000

Long-term target in case of sustained bullish momentum. If STEEM continues to gain trading volume and positive sentiment, this zone may be achievable.

Indicators to Watch

RSI: Rising above 60 indicates strength but watch for overbought conditions near 70.

Volume: Increasing 24h volume (91.16M STEEM) supports the bullish outlook.

Moving Averages:

50 EMA: Tracking near $0.2850 as support.

200 EMA: A breakout above $0.3000 would confirm a stronger trend.

Final Insights

STEEM/USDT is gaining momentum with strong volume and a clear upward trajectory. Traders should watch resistance at $0.3000 closely and prepare for potential pullbacks to $0.2764 for optimal entries.

Disclaimer: This is not financial advice. Please conduct your own research and manage risks accordingly.

Happy trading on Binance! 🚀