STEEM/USDT Technical Analysis – Bullish Momentum and Key Price Targets 🎯
Current Price: $0.2399 (+17.83% in 24 hours)
24h High: $0.2681
24h Low: $0.1875
24h Volume: 74.21M STEEM (~$16.13M USDT)
Key Levels to Watch
STEEM has seen a strong rally over the past 24 hours, with a notable price increase of 17.83%. As we look at the current chart, here are the key levels and price targets for STEEM/USDT:
1. Target 1: $0.2440 (Immediate Resistance) 🎯
This is the first major resistance level where selling pressure has been seen. If STEEM continues its bullish momentum, expect a challenge at this level. A clean break above $0.2440 could open the door to higher targets.
Reasoning: This level aligns with recent price action and is an area where the market has previously stalled.
Action: If the price breaks above $0.2440, a retest of this level as support could signal further upside potential.
2. Target 2: $0.2681 (Key Resistance Zone) 🎯
The 24h high of $0.2681 represents the next significant resistance zone. This is a critical level for bulls to conquer if they intend to push the price further north. A break above this level could lead to a retest of even higher levels.
Reasoning: The price has been rejected at this level before, making it a key barrier for the uptrend.
Action: Watch for a breakout above $0.2681 and the potential for a retracement back to this level before continuing upward.
3. Target 3: $0.2718 (Next Major Resistance) 🎯
Just slightly above the 24h high, $0.2718 represents the next major resistance level. A breakout here would mark a strong continuation of the current bullish trend.
Reasoning: The upward movement towards this level could signal that STEEM is targeting a more significant rally, especially given the current positive momentum.
Action: A solid break and close above $0.2718 would likely lead to a surge in buying activity, pushing the price toward the next price levels.