Market Snapshot - August 4th 2018
Top 10 Cryptos
At the moment of writing, top 10 assets were bouncing back after yesterday's blood bath, with all ten assets in green
Bitcoin is maintaining the $7,400 level but it doesn't seem to have a lot of traction here. The other alts are showing only minor corrections.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $1.22 on Coinmarketcap, up from yesterday in fiat and in BTC.
On the 1 hour chart, STEEM recovered about 1k satoshis, bouncing from 15k to 16k
The 1 day chart is showing two consecutive green candles, but it's still on a descending channel
SBD was trading, at the moment of writing, at $1.09, slightly up in fiat from yesterday, and up in BTC.
The 1 hour chart shows sideways trading between 14k and 15k satoshis
The 1 day chart is still flat around 14k satoshis
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 0.887 STEEM for 1 SBD, down from yesterday, and under parity. SBD printing rate is 17.66%, down from yesterday.
Overall opinion: Markets are rebounding slightly, but on low volume. Yesterday's dive was corrected by STEEM, which seems stable now. SBD maintains the peg level.
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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The bears arent done yet... Yet.
The markets seem to be slightly gaining positions after the strong correction.
Bitcoin had a nice uptrend crossing the $7500 level but then the price dropped again after hitting the 50MA resistance, now it has reached the support line again and the market is trying to cross it. Volume has been decreasing in the past 12 hours but if the price can cross both resistance lines (200MA and $7500) we could expect an uptrend resuming to the $8000 levels.
EOS was able to get out of the triangle as it started a smooth uptrend which is still in place. Volume is declining but the price managed to cross the 200MA and not is hitting the 100MA line.
STEEM had a nice strong uptrend reaction after bouncing, it corrected a little bit at night, after crossing the 200MA but now seems to be going up again. It has crossed the $1,2 price level and it pointing towards the 100 MA support.
Possibly the best time to buy some coins.
Nice to see the bounce but without much volume, I am not sure if this could be maintained. So keeping the fingers crossed and all that.....
Apart from this I am hoping the CMC fixed the bug they had yesterday because as of this moment I am using cryptocompare.
It's an awesome time to buy some bitcoins and ltls, don't you think???
Blood bath indeed... All current sideway moves are suggesting a shoot up/down, although major trend is bearish my "magic mirror" pray tell a an outburst upward..... However Price is the king follow it instructions always.
Love your chart @dragosroua it is so clean
I just wake up, I slept when i saw market going down and down and now happy to see market is on the way to go up now!
Good thing all 10 currencies graph going up consistently.
I think this week all altcoin with btc is going down again.
Wow. Btc is inreasing again. Good thing
I have a feeling that now we will touch around 9k hopefully.