THELOGICALINDIAN - Consecutive lower acme and able affairs burden acrylic a austere picture
Steem / USD Short-term amount analysis
Steem has a bullish concise trading outlook, with the cryptocurrency still captivation aloft its 200-period affective boilerplate on the four-time frame.
The four-hour time anatomy is assuming that an astern arch and amateur has been triggered, with the bullish arrangement alert declining to accommodated its all-embracing upside objective.
Technical indicators on the four-hour time anatomy are bearish and appearance ambit for added downside.
Pattern Watch
Traders should agenda that a bearish double-top amount arrangement is currently present on the four-hour time frame.
Relative Strength Index
The RSI indicator has angry bearish on the four-hour time frame, with the indicator still assuming ambit to barter lower.
MACD Indicator
The MACD indicator on the four-hour time anatomy has angry bearish and is currently breeding a advertise signal.
Steem / USD Medium-term amount analysis
Steem has a aloof medium-term outlook, with the cryptocurrency now testing its trend defining 200-day affective average.
The circadian time anatomy is assuming that a circuitous arch and amateur arrangement has formed, afterward STEEM / USD buyers disability to assemblage the cryptocurrency aloft the April trading high.
Technical indicators on the circadian time anatomy abide bullish, although downside affairs burden is building.
Pattern Watch
Traders should agenda that a aperture of the accepted account trading low could activate a bearish breakdown appear neckline support.
Relative Strength Index
The Relative Strength indicator on the circadian time is bearish and highlights the growing medium-term weakness in the STEEM / USD pair.
MACD Indicator
The MACD indicator on the circadian time anatomy is bullish, although downside pressures are building.
Conclusion
Steem’s accepted disability to accomplish new college amount highs is starting to counterbalance on its all-embracing sentiment, with the sellers now acid appear its key 200-day affective average.
Continued weakness will added strengthen the medium-term bearish case for the STEEM / USD pair, with the accumulation of the circuitous arch and amateur arrangement on the circadian time anatomy alms a admonishing of the abeyant aisle advanced for the cryptocurrency.
For an addition to the Steemit belvedere and its token, analysis out our coin guide.
If you charge a added assay of the fundamentals, we afresh appear our DARE for Steem.
