After breaking below the ascending support, STEEM went and retested it on may 26 and 27 but rejected it.
If we want to see STEEM back up again, we have to break the 0.65 resistance and close above it. After this, we have the major 0.78-0.86 resistance area, and if we break above it, STEEM could shoot right back up to 1.2.
Support levels are 0.45 and 0.33 and a break below them could send STEEM right back to 0.2
For now, we want to see STEEM push through 0.65 which could help it gain some momentum.
Of course, all of this will be affected by Bitcoin's price action, so keep an eye on BTC.
Any questions?
Good luck traders
Remember not to break your rules
Habib
If we want to see STEEM back up again, we have to break the 0.65 resistance and close above it. After this, we have the major 0.78-0.86 resistance area, and if we break above it, STEEM could shoot right back up to 1.2.
Support levels are 0.45 and 0.33 and a break below them could send STEEM right back to 0.2
For now, we want to see STEEM push through 0.65 which could help it gain some momentum.
Of course, all of this will be affected by Bitcoin's price action, so keep an eye on BTC.
Any questions?
Good luck traders
Remember not to break your rules
Habib