Something peculiar with Steem's chart

in steemleo •  8 months ago 

Just a random check of Steem's price

I was doing just a random check on Steem's price today. Something I do just about daily. But then some things drew my attention when I shifted the time frame to just 2019.

First of all, the price in both USD and BTC seems to have bottomed out the last month. The trend on that short time period is up and there is quite a straight line you can put under that bottom. Normally I am not into those kind of things, technical analysis and all that mumbo jumbo... But here it is clear that both the USD and BTC line are bottoming out. And that in my opinion is good news.


Crazy volume

But the most peculiar thing is the volume, in the weeks just before the (small) rise. Volume spikes of over 30 million USD trading per day. Never seen, all through 2019 and even further. What does this say? Did some whales unload their bags there? And by the lack of volume afterwards, the trend goes up...
I am just assuming here, but, couldn't that be the case? If that is true, that means the demand is getting bigger than the supply, which means we are going for some decent prices again... Again just assuming here. But if anyone knows more about this volume surge, please enlighten me.

Nevertheless, after seeing this, I am kind of reassured things are turning around for Steem. Be my guest to prove me wrong, I am in no way a professional in TA or other voodoo stuff. But, I just try to do my due diligence in all that I do.



Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  
  ·  8 months ago Reveal Comment

Congratulations @accountsdump, you are successfuly trended the post that shared by @pele23!
@pele23 will receive 3.52210275 TRDO & @accountsdump will get 2.34806850 TRDO curation in 3 Days from Post Created Date!

"Call TRDO, Your Comment Worth Something!"

To view or trade TRDO go to
Join TRDO Discord Channel or Join TRDO Web Site

dblog logo w white background.jpg
This post is upvoted by @dblog.supporter.
Visit now! This is a tribe for all bloggers on Steem blockchain.

Congratulations @pele23, your post successfully recieved 3.52210275 TRDO from below listed TRENDO callers:

@accountsdump earned : 2.3480685 TRDO curation

To view or trade TRDO go to
Join TRDO Discord Channel or Join TRDO Web Site