$STEEM /USDT Technical Analysis

Current Market Status:

Price: $0.2754

Trend: Bearish (13.34% drop in the last 24 hours)

Support Level: $0.2717 (24h Low)

Resistance Level: $0.2850 (Short-Term)

Indicators Analysis:

RSI (Relative Strength Index): Oversold zone (~30), indicating a potential reversal or consolidation.

Moving Averages: Price is below key moving averages (50 EMA and 200 EMA), signaling a bearish trend.

Volume Analysis: High trading volume (~29.84M USDT) indicates strong market activity but primarily selling pressure.

---

Trade Signal

Position: Long (Buy) on breakout or Short (Sell) on rejection.

1. Entry Point:

Buy: Above $0.2850 (confirmation of breakout).

Sell: If price falls below $0.2710 (break of key support).

2. Targets 🎯

For Long (Buy) Trade:

Target 1: $0.2950

Target 2: $0.3100

Target 3: $0.3300

For Short (Sell) Trade:

Target 1: $0.2650

Target 2: $0.2500

Target 3: $0.2400

3. Stop Loss:

For Long Trade: Below $0.2710

For Short Trade: Above $0.2850

---

Trade Momentum

Short-Term Momentum: Bearish, but RSI suggests potential recovery.

Medium-Term Momentum: Bearish, as price is consistently below major moving averages.

Recommendation: Wait for breakout above $0.2850 or breakdown below $0.2710 for confirmation before entering a trade.

#NFPCryptoImpact #DOJBTCAuction #ShareYourTrade #USJoblessClaimsDrop