Steem - Bollinger band squeeze is coming
Steem is moving sideways since early June between roughly 0.95 and 1.60 USD.
The chart doesn't look too bullish here but the steep rise in spring certainly needed time to be digested.
If 0.90 USD does not hold there is potential for a sell off down to 0.30 USD.
On the upside it would be good to see prices back above the 50MA and above the 200EMA. Bollinger bands starting to squeeze so a big move is coming closer.
With the crypto-sector generally remains on fire a breakout above 1.60 USD should trigger the next up-leg.
The chart doesn't look too bullish here but the steep rise in spring certainly needed time to be digested.
If 0.90 USD does not hold there is potential for a sell off down to 0.30 USD.
On the upside it would be good to see prices back above the 50MA and above the 200EMA. Bollinger bands starting to squeeze so a big move is coming closer.
With the crypto-sector generally remains on fire a breakout above 1.60 USD should trigger the next up-leg.
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