Update #119: Writing Expedition ✍️||Crypto/Technology: Let's take a Look at Steem Performance
A short From Bybit Exchange
There has not been an impressive performance in the crypto market generally for some time now. Investing in the market is no longer attractive. Investors and traders alike are licking their wounds owing from the down market.
Steemians are also having their own share of the unimpressive market performance. This is due as steem has been on a downtrend longer than expected, But not withstanding the unattractive market scenario, there are resilient steemians who bent on writing contents without getting discouraged looking at market.
In this writing, I will briefly to a look at how steem has performed within a short while. In doing this, I will be using the Steem/USDT futures to track how it has performed so far.
A shot from bybit exchange
In the past seven days, steem have had four bullish but shadow candles. On the way round, it has closed on two bearish candles with shadow. Before the seven days of this review, steem has closed on bullish candles for six days having one bullish doji.
From the technical perspective, steem is trading above the SAR line after price touched a heart-breaking low of 0.1103.
In these seven days, it has gained 0.014 with showing 6.24% gain.
The EMA7 has crossed over the EMA14. As the bullish momentum continued, it further crossed over the EMA28 signaling unrivaled bullish sentiment. The RSI is currently trading above 48 just as the STOCH is relaxing at 100 base line. This supports and confirms the bullish trend.
On the 12th July 2025, Steem touched a price of 0.1554 but could not break above it. A bullish continuation is expected and price may continue to rise above 0.1554 and the indicators continue to spot the trends.
The current market scenario is still far from restoring hope to traders and steemians. This is because of the level of of loses crypto enthusiasts has lost over several months. So the current gains can not equate the loses incured so far.
A shot from bybit exchange
Steemians would be expecting steem to continue in this bullish move as they seem to be discouraged with the market downturn.