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๐Ÿ“ˆ Daily TA: Steem (STEEM/USD) | 16-10-2021

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cryptospa
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Hodl, dear members of LeoFinance!

Recently, I've been curious about the price of STEEM ... That's why today I've decided to have a look at it and write a TA on STEEM/USD.

So, in the daily chart (1D), right now, STEEM/USD is consolidating at the 30-day Moving Average (MA 30), 90-day Moving Average (MA 90), and 360-day Moving Average (MA 360):
As can be seen from the chart, actually, STEEM/USD has been moving sideways for quite some time ... And it seems that the price is still struggling to find direction.

Interestingly, in the 4-hour chart (4H) of STEEM/USD, the situation is a bit different. STEEM/USD is trying to draw an Ascending channel (uptrend): So, definitely, this channel is a signal that the price of Steem is trying to exit the consolidation in the daily chart and start an uptrend ... but, in my view, it is too early to say that this is the beginning of the uptrend. That's why let's wait and see what happens in the next few weeks.

To be continued ...

As of the time of writing, one STEEM costs $0,5803 on the Binance crypto exchange, according to TradingView.

A few words about me:

Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 years.

Important!

Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.

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