$STEEM USDT has exploded out of its 0.051–0.053 base with a vertical impulse to 0.0645, confirming a decisive breakout and trend ignition. After the spike, price is consolidating around 0.059–0.061, holding well above the reclaimed breakout zone near 0.056–0.058. Structure shows post-impulse stabilization with buyers defending higher lows after the expansion leg.
Market Overview:
Intraday bias remains bullish while STEEM sustains above 0.0585. The breakout candle showed strong displacement and volume expansion, indicating fresh demand rather than exhaustion. Current sideways action beneath 0.0645 reflects absorption before continuation. Acceptance above 0.0645 opens momentum expansion toward 0.069–0.074 liquidity. Loss of 0.0585 would mark deeper retrace into the breakout base.
Trade Plan:
EP: 0.0588–0.0605 pullback zone
TP: 0.0695 first objective, 0.0748 extension
SL: 0.0564 below breakout support
Outlook:
Holding above 0.0585 keeps the breakout intact with probability favoring a retest of 0.0645 highs. A confirmed push through resistance would accelerate momentum into the upper-0.06s. Loss of 0.0585 shifts price into deeper retrace toward 0.055 demand. This is a high-momentum breakout continuation setup following a clean range escape.
