In most cases, when a large bull run occurs the market usually attempts to acclaim around 60% of it's value back, which can be seen as a time you want to accumulate. From the Fibonacci retracement, STEEM is currently well under this percentage, consolidating around the 78% mark, which is a great opportunity to purchase.
On the graph we have small and major resistance + support levels, follow them lines accordingly and make trades based on which one is broken. Steem has seen much higher prices in the past and we should see them again in the not too distant future.
- First target - 0.00035K Sats.
- Second target - 0.00064K Sats.
Steem's most recent high peaked around $2.52 which is approximately 35.7% lower than the currency price of $1.62, also compared to other cryptocurrencies Steem currently has a low volume of no more than $3.2 Million, the last increase had this coin at $50 Million volume. Consequently, we know that Steem has huge potential for an upsurge in price.
