STEEM Coin is Moving Higher- News and Analysis
STEEM, the social media ecosystem coin has performed very well this week. Rising 17% to $0.4 since 2/27 and shaking it's bearish pattern, STEEM looks like a 2019 winner.
STEEM has made a dramatic move to $0.4. According to Coinmarket Cap, it is ranked as the #41 cryptocurrency by marketcap with a total marketcap of $127 million. It has historically maintained a position in the top 50 cryptocurrencies. It is a mid-cap cryprocurrency and is massively volatile as an asset with an all time high around $6 and a 2018 low of $0.2.
Some great news including interest from the Twitter promotion campaign, listing on the Huobi exchange and it's expanding Dapp ecosystem make STEEM a promising cryptocurrency for 2019. Steem Monsters and Drug Wars are two examples of the 300+ Dapps the STEEM blockchain supports.
STEEM has a technical resistance around $0.43, and could move much higher if it breaches this level. There are rumors that Korean exchanges are pumping the coin.
What do you think? I believe this is a great time to power up STEEM and begin investing into Steem Monsters and Drug Wars. I am a huge fan of STEEM and Steemit, and acknowledge the volatility of this asset.