Steem Price held at 30 cent support line!
Steem price hit the 30 cent resistance line and bounced back up.
The price went all the way from 30 cents to 40 cents and the price looked like it might break the forty cent barrier.
Most Recent Steem Price and seven day charts from www.coinmarketcap.com
The price of Steem seems to bounce between support at 30 cents and resistance at 40 cents, but the one breakout in the last week was above 40 cents, which is encouraging as it broke resistance line to go higher not support line to go lower.
This is encouraging. One should never call the bottom in a bear market, but this is encouraging and a potential entry point for those who have been sitting on the sidelines waiting. But this is just my humble opinion, not investment advice! Do your own due diligence.
We saw a high price we haven’t seen for a while, which I thought was encouraging.
As you can see the price bounced off the one week and one month low price support line 30 cents and challenged the top price 40 cents.
It was an encouraging sign for those of us holding Steem longer term. While it is possible that Steem could go lower I decided to buy more Steem here and I suspect other Steemian are buying also. This post isn’t financial advice of course. I am just saying what I am doing. I feel this price action is encouraging for HODLERs 😊
Source All charts and prices from www.coinmarketcap.com
I reissued this post 12 hours later to update the charts and commentary. I have discovered a new rule which prevents corrections on posts less then seven days old. I couldn’t correct the title or first hashtag before but now I can correct typo?
Anyone else having this problem?
The breakout to 40 cent last week was not real. I believe it was the rate used by the authority nodes to keep the inflation in check or something like that. you could not sell Steem at that price, that's for sure.
Two days ago, I cold still change a blog post of mine that was a few hours old. Don't know why it would not work for you.
I think it will bounce around a bit more. I hope we see a little Christmas price boost, but it may stay low for a while.
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