$STEEM Market Recovery & Volatility:
After hitting an all-time low of approximately $0.044 on February 6, 2026, STEEM has witnessed a sharp "dead cat bounce" or potential trend reversal. As of February 18, the token spiked nearly 30% in a single day, reaching a high of $0.0687. This move was accompanied by a 700% increase in 24-hour trading volume, suggesting renewed interest from speculators.
2. Key Technical Levels:
• Support: Strong immediate support has formed at the $0.051 - $0.053 range. The absolute floor remains at $0.045.
• Resistance: The primary resistance is at $0.069 - $0.070. A break above this level could target the psychological barrier of $0.085, where significant sell orders are historically clustered.
3. Moving Averages & Indicators:
• Trend: Despite the recent pump, the 200-day Moving Average (MA) is still sloping downward, indicating that the long-term trend remains bearish. However, the price is currently testing the 50-day MA, which may act as a pivot point for a trend shift.
• RSI: The Relative Strength Index has climbed out of the oversold zone and is currently neutral-to-bullish, leaving room for further upside before hitting "overbought" conditions (typically above 70).
4. Fundamental Outlook:
STEEM’s ecosystem remains niche as it faces heavy competition from newer Social-Fi protocols. While platform-native reward programs provide a baseline of buy pressure, the price action is largely driven by broader crypto market sentiment and low-liquidity volatility.#STEEM/USDT #Binance #BinanceSquareFamily #Write2Earn! #BinanceSquareTalks
