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RE: The Price of Steem should currently be trading at $2.22 and here's why:

in #steem7 years ago (edited)

image@jrcornel, Thank you very much for a very informative and quality post. This analysis gives a very good foundation for one aspect of the price (ie fundamental value). The other equally important aspect is ofcourse the technical side (which reflects the investor sentiment and short term trading). As you probably know, the latter can be analysed using price charts which is an area I specialise in. My chart of STEEM suggests that the price is now bottoming and is beginning to slowly trend upwards (higher lows and higher highs indicated by pink dotted lines on the attached graph). Provided these recent lows hold, and the price goes above the sloping downtrend line (ie around $0.95), the price is likely to go up and my initial target is about $1.25 by the end of this year.

@marketreport @good-karma @jerrybanfield

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Update on 27-Nov-17: The price of STEEM has moved up as I expected (see above) and is now at $1.17. If it can break above $1.47 in the next few weeks, IMHO it has a very bright future.
@marketreport @good-karma @jerrybanfield