Market Overview for Steem (STEEMUSDT) – July 18, 2025

• Steem (STEEMUSDT) closed higher at 0.1514 after a strong bullish reversal from 0.1465, driven by increased buying pressure in the last 12 hours.
• A notable 15-minute engulfing pattern formed at 0.1466–0.1477, signaling a potential short-term trend shift.
• Momentum accelerated in late trading, with RSI rising above 50 and volume surging in the final 6 hours.
• Bollinger Bands showed a contraction early in the session followed by a sharp expansion, indicating rising volatility.
• Turnover spiked by over 300% in the last 3 hours, confirming the recent price breakout.

Steem (STEEMUSDT) opened at 0.1486 on July 17 at 12:00 ET and closed at 0.1514 on July 18 at 12:00 ET, hitting a high of 0.1551 and a low of 0.1463. Total volume reached 4,156,824.4 and turnover stood at $619,843.70 over the 24-hour period.

Structure & Formations

The price action on STEEMUSDT displayed a textbook bullish reversal, with a 15-minute bearish engulfing pattern forming at 0.1466–0.1477, followed by a strong rebound. A key support level was identified at 0.1465, where buying pressure appeared to halt a further decline. Resistance levels emerged at 0.1492 and 0.1503, with the price showing reluctance to close above these levels until the final hours of the session.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed in favor of bulls, confirming a short-term bullish bias. The daily chart showed the 50-period MA at 0.1493, the 100-period at 0.1479, and the 200-period at 0.1465, suggesting the price is now above key mid-term averages and may continue to consolidate above them.

MACD & RSI

The MACD line crossed above the signal line at 0.0005, with a histogram showing increasing bullish momentum in the final 6 hours. RSI rose from 48 to 58, suggesting moderate strength in the rally. While not yet overbought, the RSI trajectory implies the market may see further upward movement in the short term.

Bollinger Bands

Bollinger Bands displayed a contraction in the early part of the session, with the price hovering near the lower band. A sharp expansion followed, and by the end of the 24-hour period, the price closed near the upper band, indicating heightened volatility and a potential continuation of the bullish trend.

Volume & Turnover

Volume remained relatively low during the initial decline but surged in the final 6 hours, particularly after the price crossed above 0.1500. Turnover spiked by over 300% in the last 3 hours, confirming the strength of the rally. No significant price-volume divergence was observed, suggesting the bullish momentum is supported by real demand.

Fibonacci Retracements

Applying Fibonacci retracements to the 15-minute swing from 0.1465 to 0.1551, the price found support at the 61.8% level (0.1514) and closed near that level. On the daily chart, the 50% retracement of a previous larger move aligns with this price, suggesting a potential consolidation zone ahead.

Steem appears to have entered a short-term bullish phase, supported by strong volume and momentum. While the 0.1514–0.1524 range may offer near-term resistance, a break above this could lead to a retest of the 0.1535–0.1545 range. Investors should remain cautious of potential profit-taking or volatility if the market tests these levels without sufficient volume confirmation.