Current Market Situation of STEEM Token

Assalamu Alaikum, friends, how are you all? I hope that by the grace of God, you are all well and your trading journey is going well. Today, while looking at the market situation, I noticed the STEEM token. I spent some time looking at its chart and data, and from there I came across some very interesting things that I could not help but share with you.



If we look at the price, STEEM is currently trading around $0.0729 (0.0729). The market is looking a little down in the last 24 hours, down about 2.15%. If you look at the chart pattern, you can see that the market is now trying to consolidate or stabilize. Although the selling pressure is somewhat visible on the candlestick chart and the moving average lines indicate that the price has fallen below its previous high position, I still do not see anything to panic about. Because as the price falls, a strong support area is also being created.
The most interesting and positive thing I found when checking the order book is the interest of buyers. Although the price is falling, the buying pressure is much higher than the selling pressure. Statistics show that about 65.35% of people have now placed orders to buy the token, while only 34.65% have placed orders to sell. This means that most investors think that the current price is quite good for taking an entr,y and they see the possibility of a market reversal or pumping from here. Especially, there are a lot of buy orders accumulated at the level of 0.0724 to 0.0728, which can act as a strong support.

Finally, when I checked the 'large inflow' or large transaction data, the matter became clearer. The data for the last 5 days shows that a large amount of money is entering the market (Net Inflow Positive). Especially in the last 24 hours, a big spike or jump has been seen in the money inflow chart. Usually, such a chart is seen when big investors or those we call 'whales' become active or start buying in deep. In other words, while ordinary retail sellers are selling out of fear, smart money or big players are accumulating the token at this opportunity. Overall, my observation is that even though there is a temporary price drop, buyers are in a very strong position in the background, which may indicate a good movement in the future. However, the crypto market is always uncertain, so you will have to do some research and make your own decisions. Thank you all.