Market Snapshot - August 18th 2018
Top 10 Cryptos
At the moment of writing, top 10 assets were still strongly bullish, with all of them in green.
Bitcoin is still testing $6,500 while the rest of the assets are displaying strong upward corrections.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $0.93 on Coinmarketcap, slightly up from yesterday.
On the hourly chart, STEEM had a strong upwards movement, up to 15.5k satoshis, but it then corrected back to 14.2k satoshis where it currently trades
The 1 day chart indicates potential stabilization, but the overall trend is still bearish
SBD was trading, at the moment of writing, at $1.00, slightly up from yesterday and at the peg.
The 1 hour chart shows sideways trading, no major spikes
The 1 day chart is also stable, no significant changes
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 1.061 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: The moderate correction upwards started yesterday seems to hold, but $6,500 seems to be a stronger resistance for Bitcoin than expected. If this layer will be broken we may see a more consistent rally. STEEM is trading more or less sideways, and it's still under the psychological level of $1, while SBD is maintaining the peg.
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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Little by little the market keeps moving up.
Bitcoin finally was able to cross the $6500 resistance, it had a small retracement this morning and now that price level may be acting as a support. Volume decline while retracing and Stochastic indicator give signs of a new bull run.
EOS experienced an even more aggressive bull run with nice volume. It managed to cross all MA lines, get out of the descending channel and hit $5,6. Then a small retracement appeared and now the bulls are pushing back again with the price at $5,3 level and stochastic showing oversold. We may have a bullish Saturday.
STEEM had a similar behavior, a strong bull run sent the prices to the $1 level until a bigger correction unfolded to reach the 200 MA line which acted as a support. If that line can hold the price the market may resume the uptrend.
Although we've been immersed in a trading range on the daily charts, there is a website I check regularly which shows a nice change. It is a mathematical prediction of bitcoin price. The long-term prediction used to show even negative values a few weeks ago, but it has started to show a reverse in price in the long term. It is only a mathematical formula from past values but it is also a market long-term sentiment.
Market seems to have stabilised...It can go on either way from here.
Sbd is maintaining the peg, here its price are more than steem, though from previous class here i've come to understand how and why.
Its great news market going up.....every peoples happy to see this graph.....i hope market going up fast...steem price is better then yesterday....thanks for sharing.
Looking strong feom last 4 days. I hope this graph will goes to the peak.
Market looks good. Hope steem will flow up
I am steem lover steem price is better then yesterday...this is the sign of happyness....😅
Some prices have risen.
Bitcoin up or downswing could be brutal for alts now if goes sideway for long then its good otherwise some cheap alts on the cards again