Market Snapshot - August 15th 2018
Top 10 Cryptos
At the moment of writing, top 10 assets were predominantly bullish, recovering after last week dive, with 9 of them in green, and 1 in red.
After briefly trading under $6,000, Bitcoin recovered sharply and it's now trading just above $6,300. The rest of the assets are reacting in the same direction, but with lower velocity.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $0.87 on Coinmarketcap, slightly up from yesterday.
On the hourly chart, STEEM touched 14k satoshis for a little while and it's now trading at 13.7k satoshis:
The 1 day chart puts this recovery in perspective and indicates that the bearish trend may not be over
SBD was trading, at the moment of writing, at $1.01, up from yesterday and basically at the peg.
The 1 hour chart is flat around 15.7k satoshi, after significant volume came in yesterday to stop the free fall
The 1 day chart is stabilizing, for now
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 1.138 STEEM for 1 SBD, up from yesterday, and above parity. Since SBD printing rate is 0%, rewards are paid now in STEEM / Steem Power.
Overall opinion: Markets are bouncing back after last few days of strong bearish moves, but volume and amplitude are not significant enough for a trend stopping, let aside a trend reversal. The next couple of days will tell if we may expect stabilization around these levels or more plunging. STEEM and SBD are relatively stable in Bitcoin, but STEEM is still under the psychological level of $1.
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 seem to have reacted this morning but we need more volume to validate this is a trend reversal.
Bitcoin has been moving up strongly in the past hours (1hr chart) developing a steady uptrend which has managed to cross all three MA lines and approach the $6500 if the trend remains steady we may experience a nice day to start the reversal.
EOS had a smaller reaction, bouncing down as it reached the 100MA. We still need more volume to consolidate the reversal, next hours will tell us if the price can reach the $5 level again as we are facing a divergence between price trend and stochastic indicator.
STEEM developed a similar pattern as EOS but with 200 MA as a support stopping the reaction, volume remains considerable and we are waiting to see if bulls are able to resume uptrend again towards the $1 level.
I love to see the green in the market but I think this might be temporary thing. I have a feeling that this bloodbath is far from over...... then again, Last month I thought that we were on our way to 10K
Yeah, I believe so too, they will fall again...
Volume is the key variable.
No reversal if the volume does not change.
It is exactly the same money entering and exiting right now...
Steem on
Stellar #5 :) Low Steem prices worry me because so many minnows don't have anywhere near a $0.02 vote. The minimum payout really hurts activity on the platform with low steem prices.
On 5.05% jump is good ratio to come back.
But steem making me so sad.
Sbd is maintaining the Pegg. Good sign. Steem also has recovered.
There is so much desperation in crypto world...
I just heard a guy call this an Extinction level event for cryptos.
Good call btc. Wow sbd price is more than steem. Its just amazing
Everything in heavy green is it a bull trap again ... recently 18K btc moves and also futures contract expiry is on cards may be a crucial day for bitcoin
Wao i am very glad to see this post..sbd value grow up thats wonderful news....and the also grow up the value of steem..thanks for sharing.