Crypto to Watch - Steem (STEEM) - Breakout!
STEEM has broken through the $0.42 level of resistance which has held since November of 2018. This is a significant move on big volume.
STEEM tested the $0.50 level but failed to push through it.
The RSI level is above 70 and STEEM has not seen this level since April of 2018 when STEEM was over $3.00.
The next few days is going to be key for STEEM. I would like to see a bull flag pattern form here which will give STEEM a base to move to the next level of resistance at $0.80.
STEEM is out performing Bitcoin at this point and has been doing well since it was added to the Huobi Exchange. The big volume on STEEM is on Upbit which is another Korean exchange.
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A pullback to a resistance is common after a breakout. I will be looking for that to add to my position/increase my Steem Power. My goal is to increase the earnings from my posts and passive income from other opportunities on Steem and I am trying to acquire at strategic times.
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