(Chart by TradingView)
Until about April 8, Steem's alligator to Bitcoin continued to rise to nearly 900 Satoshi. Then it began to fall until recently, at which point there is a sudden big spike.
The MACD (Moving Average Convergence Divergence) oscillator, which is currently in a bearish position, suddenly becomes very bullish. This indicates that the price of this asset, which had been falling, has suddenly risen very quickly.
Meanwhile, the Stochastic RSI (Relative Strength Index) oscillator seems to be in overbought territory. This means that the market price of this asset has already exceeded its intrinsic price.
At this point, we can see that the originally closed mouth of the alligator has suddenly opened wide upward. Will it surge rapidly in search of prey? Or is this an organized pumping effort or just a glitch in the system?
Let's continue following this Steem alligator adventure with Bitcoin.