STEEM is Enjoying Some Incredible Gains Today. And About Damn Time Too!

Well, this is playing out nicely, isn't it? I've been chronicling this price journey for a little while now and finally we're getting the push I was expecting. This post I published last week, is coming to fruition better than I could have imagined. And I'm pretty ecstatic about where we could potentially be going from here.

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Firstly, that blue line on the chart. The notorious "Daily 200 Moving Average". I mentioned of a possible tug-of-war as price decided which side of this significant line it wanted to select. Well, the case is closed on that particular quandary. Whereas the line itself now sits at around the 10,000 sats mark, we are currently skirting around the 12,000 sats level and climbing. An exceptionally good sign. I actually purchased some STEEM around 7,000 sats and it seems to be working out quite nicely for now. Props go to @exyle for highlighting some of the TA for me back then.

However, we are inevitably gonna come up against some resistance soon enough so let's see how price decides to handle it. As far as I can see, we have several price points to keep an eye on. 15,000 sats, 17,000 sats and 19,000 sats, for now. But momentum is clearly bullish, make no mistake about it, and price "can" push through them like butter, as it has done in the past. I do expect a little turbulence whilst that happens, with a few pullbacks along the way but this is nothing to worry about. In fact, it shows the sign of a healthy market. So even more plus points in that regard.

Also looking at the overall picture, we are still much nearer to the bottom of the chart than the top. Remember, this years price bottom was around 6,600 sats, whereas the all-time bottom was around 5,500. So we've only just doubled up, which still leaves room for STEEM to soar much, much higher. Oh yes, the time to be onboard in now, without question. The RSI has gone into overbought territory, but where crypto markets are concerned and the volatility it brings, we can stay in that overbought zone until the RSI line decides to recede back down below the 70% mark. So I'm not too worried about that.

This is looking great, guys. Of course, nobody can predict where the next ultimate high is before we fall back down again, but the main thing to focus on is the bullish momentum. We are currently climbing "out" of the bear market. And you don't know how happy I am to say that. If we can simply get past those "sat" levels I mentioned earlier, make sure you buckle yourself in tight. Hyperdrive "will" be initiated! :)

Hope you enjoyed this post, please look out for more on the way... (author: @ezzy)

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