$STEEM is currently facing significant bearish pressure, trading at 0.0516 after a sharp -17.31% decline. The price has dropped below all major moving averages, including the MA(7), MA(25), and MA(99), erasing the gains from its recent spike to 0.0700. Currently hovering near its 24-hour low of 0.0513, the asset needs to establish firm support soon to prevent further downside momentum toward the 0.0500 level.