$STEEM /USDT Analysis: Testing Key Resistance After Strong Rally $STEEM /USDT is trading at $0.2316, up 7.47% in the past 24 hours. The price has surged significantly from its 24-hour low of $0.2062 and is now consolidating near its recent high of $0.2506.



Key Levels to Watch:

Resistance:

$0.2506: Immediate resistance; a breakout here may push the price to $0.2700.

$0.2900: Stronger resistance, indicating potential for extended bullish momentum.

Support:

$0.2235: Key short-term support; holding this level is crucial for bullish continuation.

$0.2060: Major support; failure to hold here may lead to further downside.

Trade Setup:

Long Entry: Above $0.2506, targeting $0.2700 and $0.2900, with a stop-loss at $0.2200.

Short Entry: Below $0.2235, targeting $0.2060 and $0.1900, with a stop-loss at $0.2400.

Market Insight:

The RSI at 71 indicates overbought conditions, signaling caution for new entries. The MACD shows bullish momentum, but volume must increase to sustain upward movement. Watch for a breakout above $0.2506 for bullish confirmation or a pullback to $0.2235 for potential support.

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