1 STEEM = $0.172 USD -- Is this a sign that the downtrend is over?

_{(Chart by TradingView)}

In late July, Steem's Ultimate Moving Average briefly surpassed $0.19, but then gradually declined over the course of the day.

Meanwhile, the SuperTrend indicator has been providing a bearish signal for nearly a month, suggesting that the market is likely to continue to decline.

However, the Squeeze Momentum indicator, which is currently in a bearish trend, appears to be gaining strength.

Steem prices rose for a short time, but they have since fallen back to their previous levels. Is this a sign that the downtrend is over, or is it just a temporary blip?

We should stay up-to-date on the latest Steem price movements.

About Steem (STEEM)

Steem is a blockchain-based social media platform that rewards users for creating and curating content. It was created in 2016 by Ned Scott and Dan Larimer, and it is based on the Steem blockchain.

Steem uses a unique reward system that is designed to incentivize users to create high-quality content. When users create content on Steem, they are rewarded with Steem Power (SP). SP is a cryptocurrency that can be used to vote on content and participate in the governance of the Steem blockchain.

The more SP a user has, the more weight their votes have. This means that users with a lot of SP have a greater influence on the content that is rewarded on Steem.

In addition to SP, users can also earn Steem Dollars (SBD) for creating content. SBD is a half-stablecoin that is bottom half-pegged to the US dollar. This means that SBD is always worth at least approximately $1.00.

Steem is a unique social media platform that offers a number of advantages over traditional social media platforms. First, Steem is decentralized, which means that it is not controlled by any one company. This makes Steem more resistant to censorship and manipulation.

Second, Steem rewards users for creating and curating content. This encourages users to create high-quality content, and it helps to ensure that the platform is always filled with fresh and interesting content.

Third, Steem is open source, which means that anyone can build applications on top of the Steem blockchain. This has led to the development of a number of innovative social media applications on Steem, such as Steemit, D.Tube, and DLive.

Overall, Steem is a promising new social media platform that offers a number of advantages over traditional social media platforms. It is decentralized, rewards users for creating content, and is open source. These factors make Steem a powerful platform for creators and curators who want to share their work with the world.

Here is how the Steem blockchain works:

• Users create content on Steem, such as blog posts, articles, videos, and images.
• Other users can upvote or downvote the content.
• The amount of SP a user has determines the weight of their vote.
• Content with more upvotes is rewarded with Steem Power (SP).
• SP can be used to vote on content, participate in the governance of the Steem blockchain, and purchase Steem Dollars (SBD).
• SBD is a half-stablecoin that is bottom half-pegged to the US dollar.
• Users can exchange SP for SBD, and vice versa.
• The Steem blockchain is secured by a network of miners who process transactions and earn rewards in the form of STEEM and SBD.

Assisted by https://bard.google.com/.