STEEM (STEEM/USD) Urgent Pump Steem Exceeds $ 0.30 New Possible price target at $ 0.50 cents

Yesterday I made a post indicating that the price of steem could reach $ 0.30 cents, analyzing the chart, according to Elliot waves, motivated by the Steem airdrop.

The price has exceeded the proposed objective and I have decided to do a new analysis.

Let's see yesterday's chart

Let's see Today chart

As we see in the chart, it has exceeded the price target indicated yesterday and we see that the trend line is making resistance. (yellow dotted line)

If resistance breaks, with good volume, it could hit the new target of $ 0.50 cents

Analyzing the elliot wave graph again, we can define a 5 wave cycle, where we can define 4 completed waves.

We can project a 5 wave at $ 0.50 cents that matches the 2,618 fibonacci projection.

• Recall that the price rises by one Airdrop per separation, to the new HIVE blockchain.

The faster the price for an Airdrop Pump rises, the analysis becomes weaker as well as the price, which could mean that the price could Dump to new lows reaching or not reaching the object

At the time of doing this analysis the price is not managing to break the resistance of the dotted line leaving candles with long top wicks and the volume is also decreasing

Resistance range chart if you hit the target of $ 0.50 cents

What do you think?

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The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.

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