📊Technical analysis $STEEM /USDT — 15min/1h timeframe
Current price ≈ 0.06037 USDT +16.25% rise, sharp rally from ~0.050–0.051 lows, accelerating upside with green candles.
Price action & Bollinger Bands: Price near upper BB (UP ~0.06392, MB ~0.05483, DN ~0.04575). Bands expanded on up move, price hugging upper band — overbought extension, potential short-term pullback/consolidation.
Volumes: Current ~32M, MA(5) ~88.5M, MA(10) ~63M — volume spike on recent green candles (strong buying pressure), now elevated on upside. Watch for dry-up on dips or surge on green.
Key indicators:
• MACD: Strongly positive (DIF 0.00240, DEA 0.00154, MACD 0.00085), histogram bullish — momentum up.
• RSI(6/12/24): 65.90 / 68.85 / 67.49 — overbought territory (RSI >65), exhaustion/pullback signal possible. Uptrend with overbought conditions + upper BB hug suggest short-term pullback likely before next leg up.
🟢 Long (moderate-high risk) Entry: 0.059–0.0605 (current or dip to MB) TP1: 0.063–0.065 TP2: 0.068–0.070 SL: 0.0575–0.058 R/R: ~1:3+ Comment: Good if RSI pullback + volume on green. Momentum favors continuation/scalp on dip.
🔴 Short (moderate risk) Entry: 0.063–0.065 (fade at upper extension/resistance) TP1: 0.0595–0.059 TP2: 0.056–0.054 SL: 0.067+ R/R: ~1:3+ Comment: Strong if rejection at resistance + MACD divergence. Counter-trend if overextension fades.
⚠️ Most likely scenario now Short-term pullback/consolidation from overbought levels (RSI>65) towards MB (~0.055) or slightly lower. Then possible continuation higher if strong volume support. Longs have structural edge in explosive uptrend; shorts only on clear rejection signals. High vol — tight risk, watch RSI/volume closely.