(Chart by TradingView)
Since mid-May, Steem alligator has been consistently and slowly descending, hunting its prey. Started from resistance at $1.47, then it seems to have fallen asleep in early July and stuck at support $0.36 today.
Meanwhile, the MACD (Moving Average Convergence Divergence) oscillator is in a bullish position and appears to be getting stronger. This indicates that the price of this asset is rising and accelerating.
However, the Stochastic RSI (Relative Strength Index) oscillator is already in overbought territory. This means that the market price is already higher than its reasonable price and investors may start to sell it for a profit, which means that the price may go down.
On the other hand, in the graph below, the price of Bitcoin seems to be rising rapidly. And usually, the price fluctuation of Bitcoin is followed by the price of other altcoins.
At this point, the crocodile's mouth seemed to start opening upward. Was this a sign that he was really going up soon?
Let's continue following the adventure of this Steem alligator.
Congratulations, your post has been curated by @r2cornell. Also, find us on Discord
Felicitaciones, su publication ha sido votado por @r2cornell. También, encuéntranos en Discord