Steem (STEEM/USD) Price Analysis: Slumps -0.0014, Interest Around Resistance Area

Summary

The MACD line is above the signal line, which is a bullish sign. The 12 day EMA is above the 26 day EMA, which is a bullish sign. Resistance 1: 0.161, Resistance 2: 0.164, Resistance 3: 0.169, Support 1: 0.152, Support 2: 0.149, Support 3: 0.144.
[coinmc type=”chart” coin=”STEEM”]

Pivots

Steem is under yesterday’s pivot point of 0.157. If bears continue to sell off, we could see prices slump as low as 0.144.

MACD

As a bullish sign, the MACD went above the signal line. A strong uptrend then is therefore expected.

RSI

RSI is also on the upside at 59.1. This signals that buyers could stay in control for awhile longer.
As a popular momentum indicator, the Relative Strength Index (RSI) displays a value between 0 and 100. The RSI identifies potential exhaustion points for buyers and sellers when it exceeds the level 70 for buyers and lower than 30 for sellers.

ATR

Independent from price, the Average True Range (ATR) is an indicator used for measuring volatility. Through using the ATR, the importance of different price movements can be quantified. A bearish support break with an increase in ATR would show strong selling pressure and reinforce the support break.

Prediction

Future prices can be calculated from today’s pivot points. Prices for tomorrow: high, 0.154, low, 0.149.