Good quick analysis. I would say that some of the downward trend also has to do with the ETH and ETC debacle. There's no clear answers short-term which is going to win the most support, but it's looking like ETH will hold strong as I expected. Mainly to due with large corporations backing the coin.

This madness has been a contributing factor the decline in STEEM price, and as you mentioned, in a week (when the ETH and ETC should start cleaning up), we should expect STEEM to kick back into an upward motion.

However, there's always the possibility that this trend continues downward even further. I remember not long ago STEEM going from 50 cents to $5. So that pump may have not provided enough support for this kind of pricing we're seeing. Still, long-term STEEM is a winner. Thanks for sharing!