$STEEM /USDT TECHNICAL ANALYSIS: BEARISH PRESSURE BUILDS AS SUPPORT NEARS BREAKDOWN LEVEL
$STEEM /USDT pair is currently trading at $0.1369, marking a -3.11% drop in the last 24 hours. The price has slipped close to its 24h low of $0.1364, showing signs of weakening momentum after failing to sustain above the $0.1421 high.
๐น Key Technical Highlights:
Trend Direction: Bearish, with price forming lower highs and testing key support levels.
Resistance Zone: Immediate resistance at $0.1400, with stronger selling expected near $0.1420โ$0.1440.
Support Levels: Current support lies at $0.1360; if broken, next downside targets are $0.1320 and $0.1280.
Volume Insight: 24h volume stands at 2.24M STEEM (โ $312K USDT), reflecting low interest and a lack of bullish conviction.
๐ Performance Summary:
Today: -1.79%
7 Days: -0.58%
30 Days: -12.64%
90 Days: +7.29%
180 Days: -48.12%
1 Year: -40.45%
๐ง Market Outlook:
The price action suggests a continuation of the bearish trend unless buyers step in strongly near the current support. A decisive drop below $0.1360 could accelerate selling, targeting new local lows. Bulls must reclaim and hold above $0.1400 to stabilize the structure.
Until then, caution is warrantedโmarket favors sellers in the near term.
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