Market Overview: Steem (STEEMUSDT) 24-Hour Analysis

Generated by AI AgentAinvest Crypto Technical Radar
Thursday, Jul 24, 2025 9:33 pm ET2min read
STEEM
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Aime RobotAime Summary

- STEEMUSDT dropped 14.6% in 24 hours, breaking below $0.1500 and $0.1450 support levels with strong volume.

- Oversold RSI (~28) and bearish MACD crossover confirm sustained selling pressure despite price testing lower Bollinger Bands.

- Price consolidation near $0.1426 suggests potential for further decline toward $0.1400, with key Fibonacci levels at $0.1450 and $0.1500 acting as critical resistance/support.

- Elevated volume during breakdown and lack of follow-through buying reinforce bearish sentiment, requiring close monitoring of key level breaches for directional clarity.

• STEEMUSDT fell 14.6% over the last 24 hours, with price hitting a low of $0.1426 before a partial recovery.
• A bearish breakdown below key support at $0.1500 and into $0.1450 was confirmed, with strong volume.
• RSI is oversold at ~28, but divergence with price suggests limited immediate rebound potential.
• Volatility expanded significantly during the session, with Bollinger Bands widening and price testing lower boundaries.
• Momentum remains bearish, with MACD in negative territory and a bearish crossover in place.

At 12:00 ET–1 on July 23, 2025,

Steem
(STEEMUSDT) opened at $0.1562, peaked at $0.1571, and closed at $0.1473 by 12:00 ET on July 24. The price fell into a bearish trend, dropping to a low of $0.1426. The total volume over the 24-hour period was 18.9 million STEEM, with a notional turnover of $2.78 million.

Structure & Formations

The 15-minute chart shows a strong bearish bias, with price breaking below key support levels at $0.1500 and $0.1450. A notable bearish engulfing pattern formed around $0.1500, confirming the breakdown. Price appears to be consolidating within a descending channel, with potential for further downside toward $0.1400–$0.1420. Fibonacci retracement levels from the July 23 high of $0.1571 to the July 24 low of $0.1426 suggest critical levels at 38.2% (~$0.1500) and 61.8% (~$0.1450).

Moving Averages

On the 15-minute chart, STEEMUSDT closed below both the 20-period and 50-period moving averages, reinforcing the bearish momentum. The 50-period MA is currently at ~$0.1485, and the price remains below that level. On the daily chart, the 50, 100, and 200-period MAs are aligned in a bearish configuration, with the 200-period MA acting as a long-term resistance-turned-support.

MACD & RSI

The MACD crossed below the signal line earlier in the session, forming a bearish crossover. The histogram remains negative, indicating continued selling pressure. RSI has entered oversold territory (~28), but this has not triggered a meaningful rebound. The divergence between RSI and price suggests a lack of conviction in any potential short-term bounce.

Bollinger Bands

Volatility increased significantly during the session, with Bollinger Bands widening. STEEMUSDT closed near the lower band, indicating a high probability of continued bearish pressure. The price may test the lower boundary again in the next 24 hours, especially if volume remains elevated.

Volume & Turnover

Volume spiked during the breakdown below $0.1500, with a single 15-minute candle on July 24 at 00:15 recording a volume of ~929k STEEM. This was the largest volume candle of the day, confirming the bearish move. Turnover increased in line with volume, with no significant divergence between the two. The lack of follow-through buying suggests that the bearish sentiment is well-anchored.

Forward-Looking View

STEEMUSDT appears to be in a bearish consolidation phase, with key support at $0.1450 and $0.1426 likely to be tested in the next 24 hours. A break below $0.1426 could trigger further selling toward $0.1400. However, the oversold RSI may attract some short-covering or bargain hunting, especially if volume begins to wane. Investors should remain cautious and watch for any signs of a reversal or a breakout below key levels.