Steem (STEEMUSDT) 24-Hour Market Overview

<img src="https://cdn.ainvest.com/aigc/hxcmp/images/compress-aime_generated_1752734200305.jpg.png" style="max-width:100%;">https://example.com/steem-chart-20250717.png

Steem (STEEMUSDT) closed at $0.1493 on July 17, 2025, after opening at $0.1465. The price peaked at $0.1503 and bottomed at $0.1463, with total trading volume of ~2.5 million STEEM over the 24-hour period.

Summary

• Steem rose 1.9% over 24 hours, closing at $0.1493 after testing resistance near $0.15.
• Key support holds at $0.1465 as price consolidates within a 40-pip trading range.
• Bullish engulfing candles near $0.1485 suggest upward momentum, though volume remains subdued.

Technical Analysis

Structure & Formations

Price faces immediate resistance at $0.15 (July 16 high), with a break above this level targeting $0.1510 (161.8% Fibonacci extension). Support holds near $0.1465, where the 24-hour low and prior swing lows confluence. A close below this could test $0.1450 (38.2% retracement of the $0.1463–$0.1503 range).

Moving Averages

The 20-period MA ($0.1485) holds above the 50-period MA ($0.1478), signaling short-term bullish bias. Daily 50/100/200 MA alignment remains neutral, with price hovering between the 50- and 100-day averages.

MACD & RSI

MACD remains in positive territory, with a slight upward slope suggesting momentum retention. RSI at 58.3 signals neither overbought nor oversold conditions, leaving room for further gains or corrections.

Bollinger Bands

Price trades near the upper band ($0.1505) after a volatility expansion, hinting at potential profit-taking. A move below the middle band ($0.1482) could signal a shift to consolidation.

Volume & Turnover

Volume peaked during resistance tests near $0.15 but tapered as price consolidated. Minimal divergence suggests buyers remain active, though subdued turnover (~$370k USD at peak) limits confidence.

Fibonacci Retracements

The $0.1488–$0.1479 zone (38.2%–61.8% retracements of the $0.1463–$0.1503 swing) acts as a magnet for support/resistance.

Outlook & Risk

Bulls may target a breakout above $0.1503 to sustain the upward bias. However, a failure to hold $0.1465 could trigger a deeper correction toward $0.1450. Investors should monitor volume expansion for confirmation of directional bias. As always, volatility remains elevated; stop-loss discipline is advised.