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RE: STEEM: Market Cap = $46,805,440. Price = $0.20.
The very heavy volume strikes me as a positive; if someone is "playing" here, they would have to have exceptionally deep pockets... not something your basement hobbyist trader could pull off. At one point I saw 24-hour volume at 6900 BTC... that's quite a lot of ching.
Volume is always the key when you have a retracement from a sudden spike like the one here. The retracement has been on relatively low volume compared to the volume that caused the spike and early suggestions indicate that this retracement "run off" is coming to a close. However it is still too early yet to call. All eyes will be on the volume over the next 48/72 hours. If I had to call it I would say 50/50 but would swing to 60/40 in a bullish position if put on the spot..!! Stephen
6900 BTC. That's some major coinage right there.