Market Snapshot - July 9th 2018
Top 10 Cryptos
At the moment of writing, top 10 assets were slightly bearish, with 8 of them in red and only 2 in green
The losses are more like small corrections, certainly not offsetting the weekend gains. The only green asset is Stellar (and Tether, but that doesn't really count), with a very small gain as well.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $1.55 on Coinmarketcap, slightly down from yesterday in fiat, and in BTC.
The 1 hour chart shows support around 23k satoshis, after another spike up to 24k satoshis
The 1 day chart shows quite a lot of small red candles, but the overall trend seems more towards stabilization
SBD was trading, at the moment of writing, at $1.26, slightly down from yesterday in fiat and in BTC.
Please be aware that Coinmarketcap included again Hitbtc in the SBD calculation pool, which resulted in a higher price than the real one, around $1.42. This rise is not real, because Hitbtc is manipulating the price, SBD being listed as high as $19 there, but withdrawal and deposits are suspended. I used the price feed from steem.supply, which uses Bittrex data.
The 1 hour chart is mostly flat with a small dip from 19k satoshis to 18.5k satoshis
The 1 day chart is also showing a small correction, indicating 18k as the next support level
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 0.807 STEEM for 1 SBD, slightly down from yesterday, and under parity.
Overall opinion: Markets seems to correct a bit ahead of the week, but this move seems to be a reversed mirror of what we had during the bear run, when the upswings were too small and too short lived to make a difference. Seems like these downwards corrections are of the same kind: smaller than the gains and apparently short lived. We need more positive indicators (like Bitcoin crossing above $7,000) to call this a reversal, so far now the markets seems to play sideways. STEEM and SBD are relatively stable in this context.
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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Bitcoin has been forming a bull flag not losing too much of the level it reached after yesterday morning pump. Everytime a big bear candle develops, bulls seem to jump in and push the price up leaving a big lower wick.
EOS, on the other hand, has lost most of the level it reached yesterday morning. Price is trading on the $8,5 level just above the three MA lines which have just overlapped. RSI seems to be reaching a low so the market may react going up.
STEEM had a similar behavior than EOS, it lost most of the level reached two days ago, at present time volume is joining the party and bulls are pushing up after a nice bear candle developed. 200 and 100 MA are overlapping and seem to be acting as a support.
True, we need another push to make BTC cross 7K mark, which may then trigger the bullish sentiment.
As soon as it will touch 7k or come near by , alt should create a strong buzz
hope to see some rise after this stability.
Thanks for the updates as usual, now we wait. I am personally building till December. I expect a significant market recorvery by then
Slightly bearish but overall the market looks in a positive trend today :)
They are the strongest ten coins
But many of them are in a low price situation
We wish to rise as soon as possible
Many currencies are in redline today. Everybody want to see higher value. If currencies will not be in red line then how people will invest? Redline is a good if you want to buy sometihing.
WHAT IS HAPPENING AROUND, YESTERDAY STEEM PUMPED A BIT, BUT NOW IT IS AGAIN GOING DOWN :(
Thanks for regular updates. We are hoping that btc and other currencies will go up. Hope sbd and steem acheive a big number
When btc price incriese