Latest Steem (STEEM) Price Analysis

Deep Dive

1. Upbit Liquidity Restoration (Bullish Impact)

Overview: South Korea’s largest exchange, Upbit, resumed STEEM deposits/withdrawals on December 5 after wallet maintenance. Users must generate new addresses, reducing accidental loss risks and enabling fresh trading activity.

What this means: Upbit’s phased restoration likely eased sell pressure from trapped funds while attracting incremental demand. Historically, renewed access on major exchanges correlates with short-term price stabilization, especially in low-volume tokens like STEEM.

What to look out for: Additional asset support phases – if STEEM volumes surge on Upbit, it could signal sustained interest.

2. Steemit’s Curation Program (Neutral Impact)

Overview: Steemit allocated 13 million STEEM Power ($967K) to December’s community curators, aiming to incentivize content creation and voting.

What this means: While this locks up STEEM for staking (reducing sell-side liquidity), the program’s monthly predictability limits surprise demand shocks. The impact is more psychological, reinforcing Steemit’s niche ecosystem activity without broader market catalysts.

3. Technical Rebound Signals (Mixed Impact)

Overview: STEEM’s RSI-14 (42.19) hovered near oversold territory, while the MACD histogram turned positive (+0.00056) for the first time in a week.

What this means: Traders may have interpreted this as a dip-buying signal, but weak volume (-36% to $9.2M) and resistance at the 7-day SMA ($0.0757) suggest limited conviction. The 24h gain barely offsets a 37% 60-day drop.

Conclusion

STEEM’s minor rebound reflects temporary liquidity improvements and oversold technicals rather than fundamental strength. Key watch: Can Upbit volumes sustain above $1M daily, breaking STEEM’s 90-day downtrend?