On the 2nd of November, STEEM/USD rejected the support and shortly after it rejected it again on the 11th of November forming a . Straight after price went above the 200 Moving Average and it still remains there. It is also worth mentioning that Steem has been producing higher highs and higher lows, which does suggest the beginning, or better said, continuation of the long-term uptrend.
The first upside target is seen near $3 psychological round number. To be precise it is $2.8 area which corresponds to the 227.2% level applied to the corrective wave after the breakout. It also appears to be the previously formed high and potential should act as a strong resistance or an upside target. Only a break and close below the $0.75 support could invalidate outlook.
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