Price Analysis

Steem (STEEM) Price Analysis: Buy Steem At A Near All-time Low Price For Skyrocketing Returns

Steem a social media blockchain had seen a lot of ups and downs from its listing in March 2016.  Within four months of its listing on July 20th, it touched 4.34 USD from its first trading prices in April at 0.70 USD. Then it reached its all-time low of 0.69 on March 10th, 2017. It bounced to its all-time high of 8.57 USD on January 3rd, 2018. Now it is again traded at 0.38 USD. Twice in the last 3 years, it has shown its potential to bounce back to peaks from bottoms.

Even though it is right now in the bearish pattern because of its trading below its 200 days moving average, it is a safe and high return investment. Experts predict a target of 9.965 USD within the next five years.  It is a 2500 % return if it reaches that level.  It is not without reason that they are predicting this kind return from Steem. Apart from its ability to bounce back to new heights in a short period, the fundamentals are also healthy.  Its innovative projects like powering real applications through social apps like Steemit have millions of customers.

Today’s Steem price statistics at 15:44 UTC:

Steem

  • It is ranked 58th in the Coinmarketcap cryptocurrency list
  • The ROI is -41.11%
  • The total circulation is 317,473,673 Steem
  • The market cap is 119,394,511 USD
  • The price per Steem is 0.37 USD
  • The BTC price is 0.00004957
  • The 24 hours traded volume is 5,937,878
  • It’s 25 days price change is 5.71 %

Today’s movement of Steem:

From yesterday’s close of 0.36 USD, it is trading 2.77 % higher. Today in early trades in the morning at 5.54 UTC it has gone up to 0.41 USD and a low of 0.36 at 15.09 UTC. So far for the day, it has shown an intraday movement of 0.05 USD with an increase in volume. But the worrying factor is the volume is increasing only on the downside from the morning to evening now.  But so far it has not cut its yesterday’s low of 0.36 but has traded intraday above yesterday’s high of 0.40 USD.  Hence it is a mixed bag of trading today.

Value comparisons of Steem:

From the start of 2019, it is range bound between 0.25 on January 14th to 0.55 its three month high. Once it breaks the three months high, it could see an upsurge. Till then, the short term pattern is only bearish.

Conclusion:

Since Steem is trading near its all-time low, it is time to accumulate it as it gets closer to it. The risk is minimum of going below all-time low, and the upward chances over time are maximum. Hence for the long term, investors buying Steem with some strong fundamentals will be the best investment for skyrocketing returns.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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