STEEM BTC Steem Technical Analysis

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By Frans van Elst

Steem logo In this Steem technical analysis, we will examine the current price action, trading volume, key levels and indicators for STEEM-BTC. Steem is a blockchain-based social media platform that rewards users with cryptocurrency for creating and curating content. The platform utilizes a proof-of-brain consensus algorithm, which incentivizes users to contribute valuable content and engage with the community. With Steem, users can earn cryptocurrency by sharing their thoughts, ideas, and creations, creating a decentralized and democratic social media ecosystem.

Steem Price Overview:

As of May 07, 2024, Steem is trading at approximately 0.0 BTC. Let’s dive into the detailed price action for STEEM-BTC:

Receive signals of growth for Steem (STEEMBTC) at 4.48e-06 BTC through positive technical analysis, backed by strong support and promising indicators.

Metric Value
Open (O) 0.0
High (H) 0.0
Low (L) 0.0
Close (C) 0.0
Volume (C) 86,334.00
  • Open (O): The opening price for today’s trading session was approximately 0.0 BTC.
  • High (H): Steem reached a daily high of around 0.0 BTC.
  • Low (L): The daily low for STEEM-BTC was approximately 0.0 BTC.
  • Close (C): At the time of analysis, Steem is trading near its daily close of 0.0 BTC.
Metric Value
1D Change (%) 0.00%
3D Change (%) -1.32%
7D Change (%) -5.29%
30D Change (%) -2.61%
90D Change (%) -8.38%
YTD Change (%) -25.95%

Over the past three days, STEEMBTC has dropped by approximately -1.32%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -5.29%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with STEEMBTC maintaining a downward trend of approximately -2.61%, despite intermittent fluctuations. Examining the last 90 days, STEEMBTC has witnessed substantial decrease of approximately -8.38%, reflecting strong long-term confidence. Year-to-date, STEEMBTC has steadily depreciated by around -25.95%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Steem Live Chart:

You can access a live price chart for STEEM-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.8524.
  • Momentum score is 0.12846.

STEEM BTC Technical Analysis

Steem Trading Volume:

The trading volume for Steem (STEEM) over the past 24 hours has been insignificant, with approximately 86,334.00 BTC traded against STEEM. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): STEEM is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): Steem is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for STEEM-BTC is currently in the neutral zone, around 48.81279. This suggests that Steem is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

Steem (STEEM-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.

Receive signals of growth for Steem (STEEMBTC) at 4.48e-06 BTC through positive technical analysis, backed by strong support and promising indicators.

Missing our detailed breakdown on STEEM USDT Steem Technical Analysis would be a lost opportunity if you found value in this post.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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