I see 0.7 usd for steem as a major resistance and if you can remember this was the level which had shown great amount of support in 3rd quarter of 2018 and in mid November only this level was breached because Bitcoin broke the level of 5500 level. So what I wanted to say is that the earlier major support will not act as a tough resistance if at all we see a correction from here on.
So yes I also think that there might be many people who are stacking steem now and waiting for a decent price of steem like 0.65 usd or 0.7 usd to sell and everyone knows that if a bounce will happen then first it will happen in BTC and if that happens, then BTC will be challenged by 5500 level and in line with that altcoins including steem will also make a corrective rally and steem will be challenged by the level of 0.7 usd and if that happens, then it will be met with more selling pressure and the price will come down again. But whatever be the case let the corrective rally happens at least, that is much more important now because this bearish phase has been stretched excessively and beyond the expectation of a common man.
Thank you and Have a great day.
I hope people will NOT sell below $1 USD. Steem is worth more in my opinion.
But if almost everyone will sell at $0.60 USD, then Steem will probably never go above $1 USD again. Or at least not in the near future. Why would it go, if people are considering a much less value ($0.60 USD) as a good value, and everyone will sell their Steem?
But a lot of people are probably going to sell, if Steem will reach $0.60 USD. So you are probably right.
If you bought Steem at a lower price (for example $0.25 USD), it is somewhat understandable that you sell that for $0.60 USD. But a lot of people don't buy Steem and don't power up. There are still a lot of spammers, and there a lot of people, who look for a quick upvote on Steemit. They just want to "milk Steemit". They just want to take advantage of Steemit, and they don't really believe in Steemit. They will surely sell their Steem. Maybe/probably even at a lower price, like for $0.50 USD or even less.
Yes, i aslo think like that.
Many steemians now waiting for price to bounce, and my target is also $0.6 per STEEM and i will exchange all my STEEM. So, maybe there is big chance that STEEM will bearish again :\