The price bounced from 0.000600 level. A bearish divergence gives us a trend reversal signal. RSI confirms price reversal and MACD histogram supports downward movement. Probably we'll see the falling to one of possible support zones. The 1st zone is formed by SMA50 and 0.000300 support level. If we get a confirmed price reversal signal, we'll be able to open new long postions from this support. If the market drops below this zone, the 2nd support will be at SMA100 and 0.000225 support level. This zone will be able to give a buy signal with good potential profit.
I think it's likely to rise again to ~600 before dropping.
MSArkRoyal
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woa, it's true
rishad123
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So are we looking at buying in at 225?
Anvuu
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I feel STEEM is a great long term hold. Has a good working product.
UnknownUnicorn1676723
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@Anvuu, Yes but if there is a bearish divergence then don't buy it because it's almost a guarantee for a failure.
Anvuu
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@ZgarniamHajs, Yeah I think I explained it poorly sorry. I will always come back to this coin, but always sell at the high points and rebuy during the bearish cycles. I sold far too early at 45000 sats, I'm happy it didn't moon.
mkhaytman
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@Anvuu, I'd using "good working product" loosely. The site is full of spam from what I've seen, people using bots to buy up votes and boost their posts. They need to figure out a way to prevent the abuse, it's a pretty crappy experience for the average user at the moment.