Market Snapshot - September 17th 2018
Top 10 Cryptos
At the moment of writing, top 10 crypto assets were correcting upwards after a rather red-ish weekend. 9 of them are in green and one in red.
The correction is not big, nor spotting a lot of volume, so I'm assuming it's still part of the range trading pattern we've seen for the last few weeks.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $0.73 on Coinmarketcap, slightly up from yesterday.
After a big green candle on the hourly chart, which took the price close to 12k satoshis, STEEM retraces and it's now trading for 11.3k satoshis
The daily chart is still flat around the same level, for almost a week now
SBD was trading, at the moment of writing, at $0.97, slightly up from yesterday and still at the peg.
On the hourly chart, SBD is stable at around 14.5 satoshis
The daily chart is stable just below 15k satoshis
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 1.318 STEEM for 1 SBD, slightly down from yesterday, and above parity. Since SBD printing rate is 0%, rewards are paid now in STEEM / Steem Power.
Overall opinion: A cautious start of the week, on relatively low volume. STEEM and SBD are range trading, like the entire market, for now. My overall outlook is neutral to bullish short term and bullish long term.
Disclaimer: I'm not a trader and this is not trading advice. I'm writing these articles for my own educational purposes and they are not meant as an investment foundation. Please make your own due diligences when investing and never invest more than you can afford to lose.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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Trading weekend.
Although the markets broke the triangle in the upward direction. The weekend ended up just as a trading range, waiting for volume to join and take a clear direction.
Bitcoin kept trading around the $6500 area, over the 50 and 100 MA lines. There has been a couple of big long lower wig bear candles in a sign that bulls are not letting bears take control and send the price down again but the low volume makes it clear to see a direction. Stochastic is in oversold so we may see the market moving slightly up today if the range can be broken.
EOS had the same pattern extect it was mainly trading above all MA lines punching the $5,5 level. Low volume kept the price ranging and stochastic is also on the lows this morning. I expect BTC follow up although lots of new dApps are pumping up the EOS ecosystem and volume may finally appear.
STEEM was no different, excep for the huge bull candle we had yesterday. Here the asset was trading over the three MA lines which are all three almost overlapping. Again, volume is needed to develop a clear trend.
This is how i like to see the market
Hello , i was in vacation and when i returned back i found the steem price drops dramatically , do you know why?
because the markets wanted so :) I am of the opinion that market is always right.
If you want speculation, well, there are tons of "reasons", but the bare truth is that the market went down.
sure , but steem is more impacted then other coins , is there any news for that or just it's the bear market.?
Just a bear market. And I don't see it impacted more than others. There are tokens which lost more than STEEM and tokens which lost less than STEEM. The market works in ups and downs...
I didn't know september had 167 days :P ( typo in the title)
Mwahahaha, thanks, I stand corrected :)
I really don't know what I want with Steem/SBD price anymore... On one hand getting STEEM/SP when it's down is cheaper... One another hand no upvoting service is good these days, and when STEEM is up everyone's upvotes go up too so there's not much difference.
when someone mentions the prices.
The market bullish trends is an encouragement that this week market might be bullish for most cryptos currencies including steem and Bitcoin. I just hope that steem will increase better in price , in other to encourage more users engagement to the platform @dragosroua
A very cautious market... No significant volumes to support a substantial up trend...
It feels great when I see coins in greens. Hope so this will continue
Great news,Steem going up from yesterday and Sbd also going up.Everyone so happy to see this graph.Hopefully steem and sbd price more going up in december.Your daily update is to good,Wonderful work.Thanks for sharing.
best thing is that you have much knowledge and got my signal at that time.... #ardr is pump again very soon.... @dragosroua think about it dear