$STEEM +63% in 24H — explosive breakout, but is the next move continuation or exhaustion?
My 1H bias remains bullish while price holds above the Supertrend at 0.05798. The breakout was extremely strong, but $STEEM is now trading near the 0.07854 resistance area after tagging 0.08575.
RSI is at 73.45, meaning momentum is still strong but the move is already stretched. MACD remains bullish, although the volume bars are starting to cool, so chasing the current price carries higher risk.
Key levels: Support: 0.06921–0.06310 Major support: 0.05798 Resistance: 0.07854 Breakout target: 0.08575 Next upside zone: 0.08788+
Bullish setup: A clean 1H reclaim and hold above 0.07854 could open the way toward 0.08575 and potentially 0.08788.
Bearish warning: A rejection followed by a 1H close below 0.06921 would signal a deeper pullback toward 0.06310–0.05798.
The move is strong, but after a 63% rally, patience is better than FOMO. Wait for confirmation or a healthy pullback.$STEEM
#STEEM #CryptoTrading #Altcoins #BinanceSquare #TradingAnalysis
My 1H bias remains bullish while price holds above the Supertrend at 0.05798. The breakout was extremely strong, but $STEEM is now trading near the 0.07854 resistance area after tagging 0.08575.
RSI is at 73.45, meaning momentum is still strong but the move is already stretched. MACD remains bullish, although the volume bars are starting to cool, so chasing the current price carries higher risk.
Key levels: Support: 0.06921–0.06310 Major support: 0.05798 Resistance: 0.07854 Breakout target: 0.08575 Next upside zone: 0.08788+
Bullish setup: A clean 1H reclaim and hold above 0.07854 could open the way toward 0.08575 and potentially 0.08788.
Bearish warning: A rejection followed by a 1H close below 0.06921 would signal a deeper pullback toward 0.06310–0.05798.
The move is strong, but after a 63% rally, patience is better than FOMO. Wait for confirmation or a healthy pullback.$STEEM
#STEEM #CryptoTrading #Altcoins #BinanceSquare #TradingAnalysis