๐ $STEEM /USDT 4H Chart Update: Relief Bounce or Just a Pause? ๐โจ
$STEEM is showing early signs of a recovery after a sharp sell-off, but the broader structure still demands caution โ ๏ธ
๐ Key Market Snapshot (4H):
๐ฐ Current Price: 0.0606 USDT
๐ 24H Change: +3.59%
โฌ๏ธ 24H High: 0.0607
โฌ๏ธ 24H Low: 0.0579
๐ Volume: ~5.03M STEEM
๐ What the Chart Is Saying:
๐ป Price previously dumped hard from the 0.0693 resistance, confirming strong selling pressure
๐งฑ A local bottom formed near 0.0573, where buyers stepped in ๐
๐ Weโre now seeing a small bounce, pushing price back above MA(7) โ 0.0597
Howeverโฆ ๐
โ Price is still below MA(25) at 0.0625
โ And well below MA(99) at 0.0662
This means the overall trend remains bearish ๐ป despite the short-term bounce
โ๏ธ Momentum & Volume:
๐ Volume picked up near the bottom โ a good sign of dip-buying interest
โณ Recent candles show slowing downside momentum, but not yet strong bullish confirmation
๐ง Conclusion:
โ Short-term relief bounce is in play
โ ๏ธ Medium- to long-term trend is still weak
๐ Bulls need a clean reclaim above 0.0625โ0.0650 to shift momentum
๐ Failure here could lead to another retest of the 0.058โ0.057 zone
Trade smart ๐ง
Manage risk ๐ก๏ธ
Let confirmation lead, not emotion ๐๐๐
#STEEM #STEEMUSDT #CryptoAnalysis #altcoins #4HChart ๐๐
