Price Position and Structural State
Steem (STEEM) closed at 0.04043 USDT on July 15, 2026, up 0.62%. The asset now sits in a sideways structure near the bottom of its 55-day range. Current 55-day support is near 0.03677 USDT, with resistance near 0.05809 USDT. A daily close below 0.03677 USDT would confirm a downside regime shift. A hold near support would keep price inside the range.
Moving Averages and Trend Context
STEEM is trading between key moving averages. MA9 at 0.040374 USDT stands as moving-average support, while MA20 at 0.040713 USDT stands as moving-average resistance. This creates a clear decision zone. A sustained hold above MA9 at 0.040374 USDT keeps the structure constructive, while a rejection near MA20 at 0.040713 USDT leaves the trend unresolved.
Trading Friction and Price Efficiency
STEEM shows moderate trading friction, with a 3-day friction score of 36.3. The score combines price progress, wick rejection, and volume confirmation. Recent candles show mixed acceptance, so price is moving but still showing some noise. Moves near support or resistance need a cleaner daily close before they carry stronger weight.
Open Interest, Funding, and Positioning
Open interest increased +7.00% in one day but remains near the lower side of its 180-day range. This shows participation is improving from a low leverage base.
Funding is positive on the 24-hour average at +0.005000%, with the 7-day average also positive at +0.002891%. This shows sustained long-side cost pressure across both short and medium windows.
The long/short ratio is 1.47 and has moved below its 30-day range. This means long accounts still dominate, but the long tilt is weaker than usual compared with recent history.
Correlation, Beta, and Index Relationship
STEEM remains strongly linked to the broader crypto market (Sigloid Index), but its beta shows lower sensitivity. Correlation confirms that STEEM tends to move with the index, while R² indicates that index behavior explains a meaningful share of its movement. Lower beta means price moves with less intensity than the index, not that the relationship is weak. Over the 30-day window, the relationship is weakening. Over the 60-day window, the relationship is stable. Over the 180-day window, the relationship is stable.
| Window | Correlation | Beta | R² | Read |
|---|---|---|---|---|
| 30D | 0.73 | 0.721 | 0.533 | Strong, lower beta |
| 60D | 0.737 | 0.738 | 0.544 | Strong, lower beta |
| 180D | 0.549 | 0.709 | 0.301 | Moderate linkage |
Momentum, Volatility, and Indicator Pressure
STEEM remains in a low-volatility setup. ATR% reads 4.81, near the lower side of its full historical range, and Bollinger Band width% reads 9.05, close to the bottom of its full historical range. 20-day Volume Z-score is -0.64, so participation is not forcing a broader move yet.
MACD histogram has turned positive, while RSI is 43.91 and ROC14 is -0.07%. Short-term impulse is trying to turn first, but broader momentum and acceleration still lag.
The read is early: some pressure is improving, but the asset remains compressed. A better signal would need range expansion and stronger volume.
Broader Market Regime
The Sigloid Index remains in a sideways regime, showing no clear broad market direction. STEEM stays closely linked to that market condition, so changes in market sentiment can still influence price behavior even when the broader trend is unclear.
Key Levels for the Next State Change
For STEEM, the next structural shift depends on range boundaries. A daily close above 55-day resistance at 0.05809 USDT establishes a bullish regime, while a daily close below 55-day support at 0.03677 USDT confirms a bearish regime.