A few days ago I made a post highlighting a consolidation pattern that Steem was in. You can see the original post here https://steemit.com/newbieresteemday/@nickh725/now-is-a-fantastic-time-to-buy-steem. Since then Steem has done absolutely nothing. The downtrend and floor of support are closing in rapidly, and one will be forced to give out soon.
The volume is still almost nonexistent, so nobody wants to bet which way Steem will break. Usually when the volume decreases, it represents a shift from the most recent trend. Since Steem has recently been in a downtrend, the low volume could indicate a possible reversal higher.
Steem will break up or down in the next few days, but the charts indicate that positive price action could be in store :)
$6.50 is still my short term price target on a breakout in Steem!