Market Snapshot - June 12th 2018
Top 10 Cryptos
At the moment of writing top 10 assets were bullish, all of them in green, but the gains were under 2%.
Bitcoin seems to get comfortable around $6,800, and all the other assets are showing signs of correction. We're still in bear territory, as the volume and gains are very small.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $1.87 on Coinmarketcap, almost the same as yesterday.
The 1 hour chart shows an attempt to move the price above 28k satoshis (from 25k). The correction down took the price around 27l satoshis, where it seems to stabilize, for now.
The 1 day chart suggests a new resistance around 27k satoshis, the last two days are basically flat around this level.
SBD was trading, at the moment of writing, at $1.46, , almost the same as yesterday.
The 1 hour chart shows a short lived upswing (probably correlated with STEEM's upswing) and then stabilization around 20.5k satoshis
The 1 day chart looks more bullish than expected, with the last downtrend stabilizing around 20k satoshis
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 0.767 STEEM for 1 SBD, up from yesterday, and under parity.
Overall opinion: We're seeing the expected "dead cat bounce", which means that neither volume, nor momentum are strong enough to suggest a bull reversal, but rather a small respite. STEEM is seeking stabilization and SBD is following suits.
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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I know the feeling. That's why I created steem.supply, an easy to use and accurate tool for calculating your Steemit rewards |
I see this as a great to chance to buy some
Glad to see badly needed recovery has just started!
After the storm a little bit of calm. All three cryptos are showing the same behavior.
Bitcoin finally did not reach the support at the prior low and now has started a very low uptrend but volume is low and we can not consider a clear trend reversal.
EOS bounced strongly after crossing the support at $10,5, then the price hit that support again and now is on its slow uptrend trying to reach the 50MA line which can be a resistance due to the low volume. Mainnet voting keeps going and it is around 3,6% at present time.
Steem seems to be reacting a little bit better and is pointing towards $2. It has already punched the 50 MA and volume is slightly higher.
The previous 2 days have been very positive for BTC, with price stalling at the $6,630 zone and finding support at this level for the time being. After price suffered a sharp drop like we saw, it is very likely that we will see prices consolidate around this area over the next few days before we see either another retest of the $6,630 level or push to the upside, potentially retesting resistance at $7,050.
Sir there is a mistake,
all of them are in green not red.
kindly correct it.
I stand corrected, thanks for pointing this out :)
no need to say thanks sir, that was my duty.
Hello @dragosroua i heard about an exchange hack in south Korea, does this contribute to this bleed?
Don't think so, it wasn't such a big exchange. It's mostly organic.
This reminds me, my openledger account was hacked on the 2nd of June, i lost a lot of funds and nothing can be done about it, or at least nothing for now.
Why am i saying this?
On steem.io site, openledger is listed as one of the trusted wallets, this should not be so, if steem can vouch for security, then i should not be worried about the information i find on the site. If i didnt see open ledger on steem.io, i would not have used it.
Hi @dragosroua
How are you ?
Informative post , thank you so much for your information ..
Upvote you .
Thanks for sharing @dragosroua
Most people will run off to sell their steem and will regret when it starts appreciating. Thanks for the update
Sbd is recovering fast then steem, that's a good news for sbd hodlers.
Its not a coin, so I doubt it can be hodld :D
so what it is ? :o
IOU. A debt of system payable in Steem.
The information is not encouraging, since the Steem and SBD have a very low rate. When will Steem and SBD begin to climb?
It extremely difficult to predict when a coin will recover. Steem and SBD follow the price of bitcoin just like the majority of the market does. I believe we still have some time before we see a significant bullish move develop by bitcoin. I have posted my bitcoin and steem analysis on my blog if youre interested!