The weekly chart of Steem shows 4 red heikin ashi candlesticks illustrating the downtrend after peaking out at $4.79 USD's
Stochastics have turned over to the downside for a bearish bias
Price may be at a support area from a high that was produced back in June of 2017.
On the daily chart, price has leveled off into a sideways pattern.
The 200 dma in orange may have provided a resistance level a few weeks ago.
Stochastics are slightly rising from the oversold area.
This is a line chart of Steem in Blue and SBD in Red. You can see the divergence back in December last year where SBD's took off to the upside.
But since then, Steem has held onto a higher price at 2.40 and SBD's at 1.73.
This is a daily line chart of Steem in Blue, Bitcoin in Red and Ethereum in Black. Any correlation to the major crypto players?
Google trends for the search for Steemit in the USA has North Dakota in the number one spot, followed by Hawaii and idaho. Imagine that... The searches have also leveled off with the price decline...
Google trends for the search for steemit worldwide has Venezuela in the number one spot which has been the case for several months. Their economy is really bad with Maduro as president and inflation is high and going higher.
Total Steemit account are at 1,026,395 and growing quite fast. I've seen statistics where the retention rate is between 6% to 8% or so.
The only speculation that I can say is that Steem will be higher at the end of the year compared to the start of the year. Hows that for going out on a limb?