NEWS

Top Two Social Cryptocoins Right Now
"This week, Facebook reported that it was set to ban cryptocurrency advertisements. The move reportedly comes as a response to the large number of so-called scam-coins and malicious ICOs being promoted through the platform. While there is no doubt plenty of the sort of activity that Facebook doesn’t want to allow happening through its platform, the move seems a little over-reactive."

Steem Dollars (SBD) Trading 27.8% Lower This Week
"Over the last seven days, Steem Dollars has traded 27.8% lower against the U.S. dollar."

Market Overview

Today we saw some nice absoption volume and a nice reaction to the 0.00043550 STEEM/BTC trendline we have been discussing all week. We will continue to monitor this level and if Buyers can successfully regain control then there is a high probability that we will retest the highs in January at the 0.00057542 STEEM/BTC level. The bottom side is still supported by the 0.00033013-0.00028606 STEEM/BTC level.

The Steem Dollar closed below the 0.00054881 SBD/BTC level on lower volume. The concerning part is that when Buyers tried to push above the level Sellers rejected them. This level continues to be the battle zone between Buyers and Sellers. If Sellers are able to continue to push the price down then there is a high probability that we will retest the 0.00036740-0.00030693 SBD/BTC level. Right now there is a divergence between STEEM and SBD, we should see some price decision over the next few days.

This article is intended for educational purposes only and not meant to convey any financial advice. Trading can be a risky venture and personal due diligence is required.