The market is generally pessimistic about $STEEM . Since many people have already sold out of their bags from this point, the fact that it is still at this crucial level may signal the beginning of something larger. At this point, high sell volumes might have already been used up, and the demands will begin to eat away at the selloffs. An accumulation may occur once the price reaches this zone, which would then lead buyers to intensify their purchases.
Stay wise, trade cautiously.