STEEM has two answers; first, wait for selling pressure to set the direction.
Binance USDⓈ-M Perpetuals | STEEM is down 11.14% over the past 24 hours. Weakness persists, and any recovery depends first on whether selling pressure subsides. Current price is around 0.0481, with 24h trading volume of about 21.0677 million; the 30m volume ratio is 4.9x, indicating rising participation. Market flows: 60% of accounts are short; the taker buy/sell ratio is 0.87 (taker selling dominates); 30m open interest is down 2.5%; funding rate is -1.0062%.
Reference indicators: The 30m RSI is 25.75, deep in oversold territory, suggesting short-term panic is elevated. The 30m ATR trend-band reference level is 0.050876. Price has fallen below it, indicating that the trend support level is coming under pressure.
Which would you wait for first: whether price can stabilize after the 30m open interest change of -2.5%, or whether the 30m RSI at 25.8 can climb back above 30?
#STEEM #Unusual-Movement Alert
Binance USDⓈ-M Perpetuals | STEEM is down 11.14% over the past 24 hours. Weakness persists, and any recovery depends first on whether selling pressure subsides. Current price is around 0.0481, with 24h trading volume of about 21.0677 million; the 30m volume ratio is 4.9x, indicating rising participation. Market flows: 60% of accounts are short; the taker buy/sell ratio is 0.87 (taker selling dominates); 30m open interest is down 2.5%; funding rate is -1.0062%.
Reference indicators: The 30m RSI is 25.75, deep in oversold territory, suggesting short-term panic is elevated. The 30m ATR trend-band reference level is 0.050876. Price has fallen below it, indicating that the trend support level is coming under pressure.
Which would you wait for first: whether price can stabilize after the 30m open interest change of -2.5%, or whether the 30m RSI at 25.8 can climb back above 30?
#STEEM #Unusual-Movement Alert