You are viewing a single comment's thread from:
RE: Why is the price of STEEM pumping, and what is the effect?
Seems like your analysis was correct, a little drop soon after it but it's bounced of the previous floor.. many range here for a week or two
Yeah, I believe the highest probability scenario is for it to range until the momentum of the 50 SMA "catches up" to price. Things could get interesting if price gets squeezed between it (or the 100 SMA) and the 200 SMA. We could get a bollinger band squeeze type of breakout... either direction, really.
But, like I said in my previous comment, things are looking positive for Steem price for the first time in a Loooooooooong time (relative to technical analysis), so my bet is on UP.