🚀 $STEEM

/USDT Technical Analysis – December 31, 2024

Current Price: $0.2375 (-16.46%)

24H High/Low: $0.3260 / $0.2366

24H Volume: 94.68M STEEM ($26.43M USDT)

Market Sentiment:

STEEM/USDT is currently in a bearish trend with strong selling pressure. However, high volatility could offer opportunities for traders.

Technical Indicators:

1. SAR (0.02, 0.2): Resistance level at $0.2396. The price is struggling to break above this, signaling ongoing bearish pressure.

2. MACD: Momentum is negative, with selling dominance. Watch for a crossover to signal a trend reversal.

3. RSI: Near oversold territory, indicating a potential bounce if buying pressure increases.

Key Levels to Watch:

Target 1 🎯 ($0.2500): Minor resistance level. If the price recovers, this is the first short-term target. A break above could signal further bullish momentum.

Target 2 🎯 ($0.2800): Significant resistance level. A successful breach here would indicate a shift in market sentiment.

Target 3 🎯 ($0.3200): Bullish confirmation zone. Breaking this would reclaim the 24H high and indicate a potential trend reversal.

Trading Strategy:

Short-term traders: Look for entry near $0.2360 (24H low) with tight stop-loss below this level.

Mid-term investors: Watch for consolidation and confirmation above $0.2500 before entering.

Risk management: Use proper stop-loss levels to protect against further downside.

Note: The crypto market is highly volatile. Always do your own research and trade responsibly.

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