Daily Steem Dollar Price Update: Up 7% And Potential Bull Flag

in #steemdollar • 7 years ago

Steem Dollar rose today about 7% and we closed the day near the daily high at 5,55. Here is the daily chart:

FireShot Capture 986 - SBDUSD_ 5.15216790 ▼−3.09% — U_ - https___www.tradingview.com_chart_AxIWekrr_.png

Comment: We are still above the bollinger band median (red moving line) and the 200 day moving average (yellow line) but we are below the 50 day moving average (black moving line).

Now, we do have a very nice setup on the stochastics, similar to Bitcoin. It is a nice bull flag formation and since Bitcoin look like it will pop tomorrow (Tuesday), Steem Dollar will likely follow suit here.

The volume has also picked up so that is another positive indicator. Now, if we were to break out tomorrow, I do expect Steem Dollar to go all the way up to 7 bucks next and that is the black horizontal line in the chart.

Happy Steeming!

#steem #steemit #altcoin #cryptocurrency
7 years ago in #steemdollar by
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