STEEM: Technical Forecast, Candle Chart, Future Price Action. by stream4u

hive-114435 · @stream4u · Oct 30 '20 (edited)

$0.36

STEEM: Technical Forecast, Candle Chart, Future Price Action.

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<center>https://i.postimg.cc/P5GLr12n/Thumbnail1.jpg</center>

<center>https://i.postimg.cc/WbzW6GVk/line-1.jpg</center>

**Let's take a look at the STEEM Price Action, What's happening in STEEM?**

<table><td>Steem is explained as a fundamental unit of account on a platform called Steemit. Steemit is a Blockchain-based platform where users can publish content and vote on it like on every other social media platform, but with the difference that on Steemit, they are rewarded with tokens.

The Steem network gives new Steem units to publishers and voters every day. Steem can be exchanged either on Steem Power (SP) or Steem Backed Dollars (SPD). Steem Power is a token used to upvote content, which helps to get revenue both for a voter (in SP) and for a publisher in (SPD) proportionate to how much Steem Power the voter has. Steem Powered Dollars represent an amount of Steem equal to 1 USD.</td></table>

<center>https://i.postimg.cc/wx5xZ4PN/Line-3.jpg</center>

## <center>STEEM Technical Forecast.</center>

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To understand the STEEM Technical Forecast, we first check the history of STEEM and understand its price action at a particular level. To check STEEM Price Action we will refer to a technical chart from [TradingView](https://www.tradingview.com/chart/k0BRTDSB/), below is the same.

<center>https://cdn.steemitimages.com/DQmcdt5mPFRoFZL14dqaFeo9Sq3W4zDS8ZeCRUzZrApvPbM/image.png</center><center><sub>*Steem Technical Chart*</sub></center>

**STEEM/USD** is currently at ***0.14536190***. In the above image, we can clearly see that the level(RED line draw) from where it went up previously.  In 2016 and between 2017-2018, the STEEM was at a huge high level from the same bottom level but did not sustain.

According to the above current chart, the red line indicating the support for the STEEM price as it goes up a couple of times previously.

**Is this opportunity to buy/hold STEEM?**

Let's take some close views at STEEM Price Action and understand what will be an accurate level to buy/hold STEEM.

<center>https://cdn.steemitimages.com/DQmNwBoxtmNeLUovJfq6ebZpXjZQUbFwTYyAB3BoLKbQREc/image.png</center><center><sub>*Steem Technical Chart*</sub></center>


<center>https://cdn.steemitimages.com/DQmTTFLCH48SdGU8ZBiZSdgSyEDjxJQ84MZ3j7Wj62Z1XBh/image.png</center><center><sub>*Steem Technical Chart*</sub></center>


<center>https://cdn.steemitimages.com/DQmeUwzjp7vdzLhVowWhzJcTeVEoD81jRLx84mz8zAQSwgv/image.png</center><center><sub>*Steem Technical Chart*</sub></center>


On the above close view charts, we can see the price is still above the big support level. However, the small support was created around **0.145xxxxxx** and the price was struggling at that level, but it seems support from buyers is getting weak and almost going to break the small support(small support line drawn in blue).

Here, we need to keep the eyes open now at STEEM price as it may break the small support and come near to big support, maybe it will be there for a couple of days only and take a big reverse(**Don't miss**).

<center>https://cdn.steemitimages.com/DQmamdQEoPEuU1p9ZD79CV3MuSNtE9QMmVnJPXLK9Ahhm8a/image.png</center><center><sub>*Historical data for Steem*</sub></center>

<center>https://i.postimg.cc/wx5xZ4PN/Line-3.jpg</center>

## <center>What To Do Now?</center>

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As I said keep check the STEEM price.  At the current level, you can try to buy some amount of STEEM, but keep some amount as it is in your pocket and wait for the big support, if STEEM price action takes reverse from the current level so there will no issue as you will be in profit, but if the price come down to near big support then use left of the money and buy more STEEM at that level to average.

**If STEEM price takes a reverse mode from here or from the big support level, you may get attractive returns, and a hold STEEM will give more as STEEM has a great bright future.** 

<center>https://i.postimg.cc/wx5xZ4PN/Line-3.jpg</center>

## <center>Technical Concept.</center>

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The technical study does not give 100% accuracy but it helps you to understand the current market price action, and also helps you in when to buy, sell, hold, and at what level we can invest more to average.

The information in this post is completely for Education purposes. Hope this will help you to understand the Market price action.

Thank You.
@stream4u

<center>https://i.postimg.cc/WbzW6GVk/line-1.jpg</center>

Cc:-
@steemitblog
@steemcurator01
@steemcurator02

#india

## <center>This Post Set For 100% Power UP.</center>

<center>https://i.postimg.cc/WbzW6GVk/line-1.jpg</center>

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👍 kevinwong, acidyo, karja, apoloo1, marcosdk, akkibadboy, curx, josevas217, javb, sergino, franyeligonzalez, ufm.pay, theatrorve, radaquest, llobu, moonoi22, ernick, tmps, discohedge, alives, crokkon, maliha24, auc, talkie

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