$STEEM /USDT Technical Analysis & Trade Signal:

Current Price: $0.2932

Trend Analysis:

Overall Trend: The price has been trading in a tight range recently, showing slight bullish momentum with a +0.14% increase in the last 24 hours.

Resistance Levels: The recent high of $0.3147 indicates a key resistance level. If the price breaks above this, we could see further bullish action.

Support Levels: The recent low of $0.2764 is a crucial support zone, which, if broken, could signal bearish continuation.

Technical Indicators:

RSI (Relative Strength Index): Currently hovering around the mid-range (50-55), indicating neither overbought nor oversold conditions. This suggests the market is waiting for a clear direction.

MACD: The MACD is showing a slight positive crossover, confirming bullish momentum in the near-term.

Volume: The 24h volume of 99.39M STEEM suggests healthy liquidity, which is favorable for trade execution.

Trade Setup & Signal:

1. Target Level 1 (Short-term):

Entry: $0.2932 (current price)

Target 1: $0.3000

Stop Loss: $0.2800

Reasoning: A breakout from the current range may target this initial resistance level.

2. Target Level 2 (Mid-term):

Entry: $0.2932 (current price)

Target 2: $0.3100

Stop Loss: $0.2750

Reasoning: This level aligns with the previous 24h high ($0.3147), providing a strong resistance point.

3. Target Level 3 (Long-term):

Entry: $0.2932 (current price)

Target 3: $0.3250

Stop Loss: $0.2700

Reasoning: A bullish breakout towards this target level could push the price higher if momentum continues.

Trade Momentum:

Bullish Bias: Given the slight upward momentum and RSI in neutral territory, the short to mid-term momentum suggests a potential for a bullish continuation. However, it’s crucial to monitor the resistance levels for signs of reversal.

Caution: If the price breaks below $0.2764, it would indicate a bearish shift, suggesting a possible short trade setup.

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