Market Snapshot - September 13th 2018
Top 10 Cryptos
At the moment of writing, top 10 crypto assets were predominantly bullish, with 9 of them in green and 1 in red.
Bitcoin recovered a little, but it's still range trading. Ethereum recovered more than 7%, but, overall, the market is still down.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $0.70 on Coinmarketcap, slightly up from yesterday.
The hourly chart bounced from 10.k satoshis (probably fueled by the HF 20 announcement) and it's now trading at 11k satoshi
The daily chart looks like the bleeding might be over, but it's still predominantly bearish.
SBD was trading, at the moment of writing, at $0.96, almost similar with yesterday and still at the peg.
On the hourly chart, SBD is stable at around 15k 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 1.358 STEEM for 1 SBD, down from yesterday, and above parity. Since SBD printing rate is 0%, rewards are paid now in STEEM / Steem Power.
Overall opinion: Markets are breathing a little today, but no significant volume to support a trend reversal (yet). STEEM recovered a little and SBD is maintaining the peg. My personal outlook is still neutral to bullish short term, and neutral medium 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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No clear trend yet but the markets show a little green reaction.
Bitcoin reversed the gradual downtrend to a very smooth uptrend in the 1hr chart, crossing the 50 and 100 MA lines and the long-term downtrend line. A nice bigger bull candle reached $6400 level at midnight trying to reach the 200 MA line. This morning the market is quite stable trading just below $6400 and waiting for volume to join and decide if bulls keep pushing up. New GUSD stable coin from Gemini might be the cause of this minor reaction.
EOS had the same pattern with a bigger bull candle at midnight trying to punch the $5,2 level. Now the market is trading just below $5 and the volume is decreasing and waiting for a stronger reaction. We will have to see if the 200MA can be crossed or acts as a resistance.
STEEM had a much clearer bounce with a nice bull trend since yesterday morning. It just reached the 50 MA line which has acted as a resistance creating a little bull flag. Again, we need more volume to see a stronger reaction.
The way up just started...
Slight bit of green after so many days in crypto such a sigh of relief
Neutral is the new positive outlook on the market :) beats the bearish run we have been on
Am happy for the little bearish mark price and seeing the good news here, things will soon bounce back, am so sure of that.
Is it dead cat jump for steem???
don't think so, volume on Bittrex seems to be relevant.
great to see market rising again what i see is that steem got 0.66 yesterday and now its up to 0.77 i think ... and thankGod
Looks like some tries to manipulate steem but doesn’t succeed at all. Overall the market is looking stable @dragosroua
It is nice that the crypto market is gaining little in terms of price movement, and I do hope that the bullish trends experience today will be extended into next week market. Let us all hope for a bullish market next week also