Price Position and Structural State
Steem (STEEM) closed at 0.04284 USDT on August 30, 2026, down 6.26%. The asset now sits in a sideways structure near the top of its 55-day range. Current 55-day support is near 0.03398 USDT, with resistance near 0.04686 USDT. A daily close above 0.04686 USDT would confirm an upside regime shift. A rejection near resistance would keep price inside the range.
Moving Averages and Trend Context
STEEM is trading above short-term moving averages but remains below longer-term resistance. MA14 at 0.042023 USDT can act as near-term support for the recovery attempt, while MA9 at 0.044551 USDT is the key level to reclaim for a broader trend shift. Short-term structure has improved, but longer-term moving averages still show overhead resistance.
Trading Friction and Price Efficiency
STEEM shows moderate trading friction, with a 3-day friction score of 48.8. 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 fell -0.65% in one day and remains near the lower side of its 180-day range. This shows participation is weak and exposure is still being reduced.
Funding is positive on the 24-hour average at +0.005000%, with the 7-day average also positive at +0.005000%. This shows sustained long-side cost pressure across both short and medium windows.
The long/short ratio is 1.92, showing more long accounts than short accounts. It sits near the middle of its 60-day range, so this is a long tilt without clear historical crowding.
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 weakening. Over the 180-day window, the relationship is strengthening.
| Window | Correlation | Beta | R² | Read |
|---|---|---|---|---|
| 30D | 0.64 | 0.707 | 0.41 | Strong, lower beta |
| 60D | 0.638 | 0.725 | 0.408 | Strong, lower beta |
| 180D | 0.618 | 0.685 | 0.382 | Strong, lower beta |
Momentum, Volatility, and Indicator Pressure
STEEM is showing wider movement, but participation is not fully backing it. ATR% reads 5.51, near the lower side of its full historical range, while Bollinger Band width% reads 44.37, close to the top of its 180-day range. 20-day Volume Z-score is -0.62, showing slightly below-normal participation.
Momentum is stronger. RSI is 57.69, ROC14 is +22.93%, and MACD histogram is positive. These readings point in the same direction: upside pressure is active across momentum and multi-day acceleration.
The read is still incomplete: momentum is improving, but volatility or participation has not confirmed the move strongly enough.
Broader Market Regime
The Sigloid Index remains in a bullish regime, showing broad strength across the market. STEEM stays closely linked to that market condition, so broader market strength can support price behavior and keep market direction important for this asset.
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 0.04686 USDT establishes a bullish regime, while a daily close below 55-day support at 0.03398 USDT confirms a bearish regime.