⭐ $STEEM #downtrend

Binance Technical Analysis: STEEM/USDT

The STEEM/USDT pair is currently trading at 0.2933 USDT, experiencing a 14.61% decrease over the last 24 hours. Here's a breakdown of the key levels and potential targets to watch:

Key Levels to Watch:

24h High: 0.3555

24h Low: 0.2898

Current Price: 0.2933

Support and Resistance:

Resistance Level 1: 0.3266 – This is an immediate resistance level that may act as a barrier if the price moves upward.

Resistance Level 2: 0.3437 – A more significant resistance level, likely to cause consolidation or rejection.

Support Level: 0.2871 – A key support level near the 24-hour low, which could prevent further decline if the price drops.

Potential Target 🎯:

1. Short-Term Target (0.3266): If the price manages to regain momentum, the first target is likely to be the 0.3266 level, where it could face resistance.

2. Mid-Term Target (0.3437): Should the price break the 0.3266 resistance, expect the price to push toward the 0.3437 level for a potential rebound.

3. Long-Term Target (0.3555): The ultimate target for this downward correction could be the 24-hour high of 0.3555, assuming the market recovers and gains bullish momentum.

Volume & Indicators:

Volume: 171.62M (STEEM), 54.21M (USDT)

Moving Averages: MA(5): 1,006,134.4, MA(10): 993,594.5 – Both moving averages suggest a weaker upward momentum in the short term, indicating potential resistance around current levels.

Additional Indicators:

EMA/BOLL/SAR/AVL: Traders should monitor the trend for any signs of reversal using the Exponential Moving Average (EMA), Bollinger Bands (BOLL), Parabolic SAR (SAR), and Average Volume (AVL) indicators.

MACD: Check the MACD indicator for momentum shifts or potential crossovers indicating trend changes.

#STEEM/USDT #USDT #TechnicalAnalysis #Binance #CryptoTrading #CryptoAnalysis #BinanceTrade