Market Snapshot - August 19th 2018
Top 10 Cryptos
At the moment of writing, top 10 assets were bearish, with 9 of them in red, and one in green.
Bitcoin bounced back from $6,500 and it's currently changing hands at $6,400. The rest of the assets are reacting significantly to this dip, but it seems just a sideways correction.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $0.90 on Coinmarketcap, slightly down from yesterday.
After testing yesterday the 15.5k satoshis upwards resistance, STEEM is now back in the 14k - 14.5k satoshis corridor, trading mainly sideways.
The 1 day chart may still be in the cards for stabilization, but the main outlook remains bearish.
SBD was trading, at the moment of writing, at $1.00, identical with 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 1.093 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: Bitcoin retraced slightly from $6,500 to $6,400 yesterday and that's what the entire market is all about now. I expect Bitcoin to test the $6,500 resistance level once more today / tomorrow and, if it breaks it upwards, we may see a moderate rally. If it holds, I expect sideways trading for a while. STEEM and SBD are stable.
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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We had the weekend retracement yesterday.
Bitcoin lost the $6500 level after reaching the $6600. A strong big bear candle left the prices in the $6300 level below the 100 MA line. We will see if the market remains in a trading range today or is able to push up again crossing the resistance.
EOS also had a strong decline as all the alts, but it managed to remain above the $5 level trading slightly higher than the downtrend channel line. Volume is quite low this morning and a new triangle is forming which may break up or down.
STEEM strong decline sent the prices below all MA lines losing the $1 level again. Now the volume is extremely low and the market has been developing a triangle between the 200 and the 100 MA line. With such a low volume, the day may just follow the trend bitcoin will develop.
I'm wondering when steem will be on top 10 of cryptocurrency charts
As i see trx/tron has dissapeared from top 10
At least eos it's still there ... that would be interesting to be seen eos/bts/steem on top 10
Maybe someday
Thanks for sharing this info @dragosroua
Regards and have a Blessed Sunday along your Family
For a brief period of time, STEEM was the number 3 crypto currency, just after it launched, in July 2016. Getting back to top 20, at least, will be just an act of justice, IMHO. This is one of the few platforms out there that have a real product, market tested and improved.
Surprised to see Tether in the top 10 cryptos!
I consider it to be a bit of a scam since the company behind it can just keep printing thousands of usdt and the price is still at the $1 peg.
Am just happy with the way steem has managed to hold up when you consider the swings of others. Let's hope for the moderate rally as you say
Well crucial days ahead for steem and bitcoin for sure the alts might go down again
Being the weekend not much trading activity.
All the coins are red the only positive is steem is showing some stability
Yeah it's all stagnant... Let see what next week brings...
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BTC showing the high of 6620 came back to 6390!
Good news are coming and we will see a rally here hopefully.
Day by day market going up...never sale your coins...After 2 or 3 months market looks very strong ....rate of coins will high.....Great work sir...thanks for Sharing.....and Never lose your hope..Hope for the best .