Market Snapshot - Day Thirteen

in steem •  11 months ago

This is my thirteenth day from the 30 days writing challenge I'm doing during January. Basically, I'm writing each day an article on a topic that I'm interested in, or something that I'm just learning. I tag these posts with #challenge30days, if you want to join, all you have to do is to use the same tag. Each day I will also pick 3 articles and give them a full upsteem. For all the details and the motivation, have a look at the introductory post.

Top 10 Cryptos

At the moment of writing, top 10 cryptos were predominantly green, with only one in red.


Screen Shot 2018-01-13 at 8.57.59 AM.png


Markets seem to recover sharply after South Korea FUD vanished. Bitcoin is stationary, at $14.3k, trading slightly up. Ethereum is again over $1,300 and widens the gap between it and Ripple, which now stands at $47 billion. Just a week ago, the situation was completely reversed, with ETH being led by Ripple with a $40 billion advantage. There is a very interesting newcomer in top 10, EOS (briefly noted its entrance in top 10 yesterday and also wrote a longer piece on Cardano, EOS, Steem and SMT). Apart from ADA and EOS, which are both seeing double digit appreciations, all other top 10 currencies are looking cautiously up.

STEEM And SBD

At the moment of writing, STEEM was trading, on average at $6.29 on Coinmarketcap, sharply up from yesterday, with almost 30% appreciation. On Bittrex, the 30 minutes chart is showing a sharp breakout from 39k satoshis to 46k satoshis, followed by a very small correction.


Screen Shot 2018-01-13 at 8.58.24 AM.png


The 1 hour chart shows that the correction for the upswing is relatively small, indicating remaining pressure upwards.


Screen Shot 2018-01-13 at 8.58.30 AM.png


The 1 day chart confirms STEEM has left the danger zone (35k satoshis) and banked two consecutive green candles.


Screen Shot 2018-01-13 at 8.58.42 AM.png


SBD was trading, at the moment of writing, at $6.99 on average, sharply up from yesterday. The 30 minutes chart on Bittrex shows two consecutive attempts to break up beyond 50k satoshis, with highs as big as 60k satoshis and a stabilization around to 49k satishis.


Screen Shot 2018-01-13 at 8.58.52 AM.png


The 1 hour chart supports the above trend: breakout over the 45k satoshis zone and stabilization around 49k satoshis.


Screen Shot 2018-01-13 at 8.58.58 AM.png


The 1 day chart shows a slowdown of the downtrend channel and a potential resistance around 49k satoshis.


Screen Shot 2018-01-13 at 8.59.04 AM.png


Overall opinion: STEEM seems to be over the correction stage and is testing a new upwards channel. SBD is slowing down depreciation and looks for a resistance around 49k. The 1 to 1 parity between the two is imminent.

Previous Posts In The Challenge

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.


Dragos Roua


You can also vote for me as witness here:
https://steemit.com/~witnesses


If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):

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Glad to see Steem gaining more than 25% today!

When the two achieve parity...or reverse.
then what?
how will that affect tactics?

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STEEM was always the base currency here, SBD swing up was just an accident. With that being said, it doesn't mean another accident can't happen again.

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Rush hour traffic comes to mind.
accidents are not rare.

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Steem for Steemians ! Next meeting at $ 10.70

What a great green Saturday today.....the Korea FUD indeed vanished.
A friend told me recently not to make emotional decisions in the crypto world!

All the people who panicked this last few days were letting emotions get over them!

I am thinking of investing on stellar but it smartcash is eising fast that stellar.. what do you think is the best between the 2?

looks like out of the top 10 coin is only the bankter coin that is red, the market seem to be recovering well, it has gained $25B in market cap since yesterday, am glad both steem and SBD are trading high, steem above $6 and SBD is 20% up, hope this coin markrt surge continues upwards

Wow.. I love this tag #challenge30days cos since it's almost about what we are learning newly, it will cause one to always go in search of new things and learn them like as you said its about something you're learning.

But, Could it be said that the fall in Bitcoin affects Steem?.

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not really

I hope nothing like South Korea thingie happens again.

steem rise greatly after that quick correction

I've been waiting for STEEM and SBD prices go up. So, it was due to correction. I thought it was the decline in BTC price that made the altcoins including STEEM/SBD bleed.

SBD value is going to rise again soon
best wishes for the challenge

This is a very informative post

i see the market is taking off again
i spend more time on coin market cap than i spend any where else~ lol

best luck with your challenge how you guys gone select winner

I don't know exactly the difference between seteem and SPD!