Can Steem Dollars and Steem face Parity?

Our puzzle since hard fork 19 has been drop in the price of Steem. Most speculators are perplex given the bullish outlook of the steemit platform. I personally still maintain a bullish outlook on Steem, and I am now asking myself another question, what does this mean for Steem dollars. What does this bullish outlook mean for Steem dollars? Can Steem dollars and Steem face parity?

I am gonna share the same this graph again, you see, Fibonacci tells a powerful story

We can see that Steem Dollars has broken three key Fibonacci levels, and it is possible to draw a Fibonacci fan in future to better understand the price movement. Here is a progression of the graph.

We have to now keep our eyes on three key SUPPORT levels

1. 0.000688
2. 0.000664
3. 0.000644
   And for those looking to take ultra conservative approach==> 0.000622

We can also look at a very key RESISTANCE level==> 0.000754.

I can make a case of parity for Steem Dollars and Steem, because Steem Dollars like Steem would be in DEMAND. I have a feeling that your reward setting can have a big role in this parity. The difference between Default (50%/ 50%) and Power up 100%. I am gonna speculate that Steem Dollars is simply catching up to Steem and the pairs can move together in a harmonious manner. I am making the claim now and saying that I am expecting Steem Dollars to hit that 2USD mark and move together with Steem.

We can see that Steem has had quite a sell-off lately, I suspect this to be traders, taking some much deserved profit however I am surprise of the magnitude.
We can clearly see that Steem got major buyers at the 0.000711 levels. My bias would lead me to give a near-term and long-term bullish outlook but given the fact that we tend to think of quick profits without long-term vision retracement can be expected at

1. 0.000695
2. 0.000727
3. 0.000744
4. 0.000760
5. 0.000778

I am looking at a key RESISTANCE level at 0.000838, if Steem can break this level, then the fundamentals can lead our imagination so many places.

With these analysis, presently I don't know if Steem Dollars is cap but if its cap, folks I expect Steem Dollars to quickly catch up to Steem and we could have a case of parity. In that likelihood, we may see some tag of war with regard to prices and parity can become the new talk when we look at analysis.

I am bullish on both SBD and Steem and I encourage my readers to BUY BUY BUY while its this cheap, and those without money at their disposal, use the proceeds and blessing of HF19 to Buy and power up. Please use @blocktrades as it is an efficient method of buying and selling your SBD and Steem. You can also exchange other coins for your SBD and Steem. So please make the investment.

Folks this is a speculative piece, I hope you enjoyed it, at the writing of this post SBD was trading at US $1.65 and Steem was trading at USD $1.99. The graphs are quoted in BTC. The analysis are not investment advice but simply my outlook. If you enjoyed this post please upvote and resteem my post, it give me the encouragement to continue writing and sharing with you

Upvote, Resteem and follow @daudimitch