The market has been bleeding for the past few weeks. We have seen most of the alt tokens lose significant valuation. Steem can be seen as one of them. Today we will see steem price movements and reflect on how it has fared.
The week started with Steem heavily fluctuating and gradually falling through all the support levels. The 0.0889$ was a strong resistance level. Unfortunately, for the next period, Steem gradually fell and lost key support levels.
Steem fell towards level of 0.083$ and bounced on in this region. On the upper part, this 0.09$ zone is now a crucial level for it. It has created a bearish trendline over the last week, that needs to be broken through. Steem needs to regain the strong resistance zone, with a successful retest. There will be 0.1$ zone ahead of Steem after that.
All Screenshots are taken from Coingecko
After experiencing a few good weeks, Steem is currently showing bad performance. It is down 7.5% in a week.
No word from this article should be taken as financial advice.
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