$STEEM

/USDT Dip Momentum but watch for potential bounce 💯 💥 🎯

Price: $0.2375 (-0.25%)

24h Change: -1.82%

24h High: $0.2549

24h Low: $0.2302

24h Volume (STEEM): 53.54M

24h Volume (USDT): $12.92M

Market Segment: Content and Social Platforms

Technical Analysis (30m Timeframe)

Resistance Levels:

Immediate Resistance: $0.2400

Next Resistance: $0.2500

Support Levels:

Immediate Support: $0.2300

Next Support: $0.2200

Indicators:

Moving Averages: Price is below the 20 EMA, indicating short-term bearish momentum.

MACD: Negative histogram with a bearish crossover.

RSI: 42 (neutral to slightly bearish, but not oversold).

Bollinger Bands: Price is near the lower band, signaling potential for either a bounce or continuation of the downtrend.

Trade Signal

Momentum: Slightly Bearish

Entry Point: $0.2300 - $0.2350

Target Levels 🎯:

1. Target 1: $0.2400

2. Target 2: $0.2500

3. Target 3: $0.2600

Stop Loss: $0.2200

Trade Strategy:

Short-Term: Conservative traders can aim for Target 1 to minimize risk.

Mid-Term: If price breaks above $0.2400 with volume, hold for Target 2 or 3.

Risk Management: Keep the stop-loss tight given the current bearish pressure.

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