Market Overview for Steem (STEEMUSDT) on 2025-07-18

• Steem (STEEMUSDT) formed a bullish recovery after a sharp 15-minute drop to 0.1465.
• Price tested and rebounded from a key support near 0.1492, forming a potential bullish reversal pattern.
• 24-hour volume surged above 1.4 million STEEM, with turnover rising to $218k.
• RSI and MACD showed divergence in early session, but momentum reversed mid-day.
• Bollinger Bands expanded after a consolidation phase, indicating increased volatility.

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Market Overview

Steem (STEEMUSDT) opened at 0.1486 on 2025-07-17 12:00 ET and reached a low of 0.1465 before closing at 0.1492 on 2025-07-18 12:00 ET. The 24-hour high was 0.1532, and the low was 0.1465. Total trading volume exceeded 1,400,000 STEEM, with a notional turnover of approximately $218,000.

Structure & Formations

The price action revealed a sharp bearish breakdown in the early part of the session, where STEEMUSDT dropped from 0.1486 to 0.1465 within 45 minutes. This was followed by a strong reversal as buyers stepped in around the 0.1492 level, forming a potential bullish engulfing pattern. A key support level appears to have formed around 0.1492, and resistance is currently at 0.1503–0.1504.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed into bullish territory by the early morning hours, suggesting a short-term recovery. The 50-period MA was below the price for most of the session, but the 20-period MA crossed above it as price rebounded. On the daily chart, the 50-period MA is above the 100-period MA, indicating a longer-term bullish bias.

MACD & RSI

The MACD line turned positive after mid-session, with a bullish crossover occurring around 03:00 ET. The histogram showed increasing momentum as price recovered. RSI initially dipped into oversold territory (~45), but it rebounded back into neutral to slightly overbought levels (65–70) by the end of the session, suggesting the move may not be overextended yet.

Bollinger Bands

Bollinger Bands were in a period of contraction before 02:00 ET, signaling a potential breakout. After 03:00 ET, the bands expanded as volatility increased. The price closed near the upper band, suggesting continued upward momentum, though a reversal could occur if it exceeds the 0.1503–0.1504 resistance level without confirmation.

Volume & Turnover

Volume was notably higher during the recovery phase, especially between 03:00–06:00 ET, when STEEMUSDT traded above 0.1500. Notional turnover also increased during this period, confirming the price action. A divergence appeared between price and volume earlier in the session, but it was resolved with the rebound.

Fibonacci Retracements

Fibonacci levels drawn from the 0.1465 low to the 0.1532 high showed key retracement levels at 0.1492 (38.2%), 0.1508 (61.8%), and 0.1525 (78.6%). Price held above the 38.2% level and may test the 61.8% level next. A break above 0.1508 would be a strong bullish signal.

Looking ahead, Steem may consolidate above 0.1492 and attempt a test of 0.1508–0.1510. However, traders should remain cautious of potential profit-taking if the 61.8% Fibonacci level is reached without strong volume confirmation.