Market Snapshot - July 7th 2018
Top 10 Cryptos
At the moment of writing, top 10 assets were predominantly bullish, with 8 of them in green and 2 in red
The weekend is starting on a rather positive note, consolidating the gains of the last week.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $1.54 on Coinmarketcap, u[ from yesterday in fiat, and in BTC.
The 1 hour chart shows a small upswing up to 26k satoshis, followed by a correction down to just above 23k satoshis
The corrections we're seeing on the 1 day chart seems to unfold at a slower velocity, which means price may stabilize and engage in a sideways trading pattern (bears are weakened)
SBD was trading, at the moment of writing, at $1.27, up from yesterday in fiat and in BTC.
The 1 hour chart shows a similar upswing with STEEM, taking the price back to 19k satoshis
The 1 day chart is looking stable, although the volume is increasing (I consider this to be a positive, given the "stablecoin" nature of SBD)
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 0.823 STEEM for 1 SBD, up from yesterday, and under parity.
Overall opinion: Optimism all over the crypto spectrum. If the price keeps this level (or grows) for the entire weekend, then we can safely bet on an end of the bear trend - which doesn't guarantees, though, that we're going to see a bull trend immediately. STEEM and SBD are correcting slightly higher.
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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Markets keep on a trading range in most crypto assets. They go up and down but basically remain at the same level.
Bitcoin seems to be forming a new triangle around $6500. Declining volume is an indicator of the potential future breakout.
EOS keeps losing value very slowly after July 2th pump. The 50MA seems to be the support holding the price and volume is also declining slowly since then.
STEEM did lose the $1,5 level as price crossed the 50MA support. Volume remains low and we will have to wait for the rest of the weekend to find out if the price stays at this level or keeps moving down.
Nice moves in the market today
Good to see that many currencies jumps. The golden time of crypto's are going to start.
A zigzag behavior has shown up!! :D
Market is volatile and so far my own portfolio lost 45% wishing some good time soon with green candles.
Great analysis, thanks for sharing. With this weekend now I expect some sideway movement with the hope that starting from monday Bitcoin will go to 6,8k and higher and thus other coins like STEEM and SBD will follow. Overall I think the market is neutral at the moment with still both ways up and down.
This green is an opportunity for some traders to make some cool profit. Nice one.
Good afternoon Dragos!
Do you think there will be any time soon a better parity between SBD and Steem.. like 1:1
I know you don't like to give advices but your opinion really counts ...
Have a great week-end!
PS: I am asking because as i mention to you in the past what i am doing is power up till i will reach at least 1000 steem power so is good to know you prediction about the parity.
I don't think STEEM will come lower than $1.3, but that's just my opinion, I obviously can be very wrong, as STEEM traded even for $0.10 at some point.
Super! Thanks a lot for the replay...
someone looks happy :)
Good to see the green wave, but still things are going down again.
I don't know when things will settle down.