Market Snapshot - May 28th 2018
Top 10 Cryptos
At the moment of writing top 10 assets were bearish, with a sudden dip in the last hours
The week started with a dip and all markets are looking down, at the moment.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $2.33 on Coinmarketcap, down from yesterday both in fiat and Bitcoin.
The 1 hour chart shows a sudden dip, from 34.5k satoshis to 32k satoshis.
The 1 day chart is very bearish, indicating that the support level, at 32k satoshis, was touched. If the support level is broken, the next stop is at around 20k satoshis
SBD was trading, at the moment of writing, at $1.73 on average, down from yesterday.
The 1 hour chart shows same sudden dip as in STEEM's chart
The 1 day chart shows that the current resistance level, 22k satoshis, is also tested
SBD to STEEM Ratio
At the moment of writing, according to steem.supply, for 1 SBD you get 0.739 STEEM, slightly up from yesterday and below parity
Overall opinion: The morning dip suggest a more systemic (or profound) depreciation across the entire crypto market. STEEM and SBD are once again tightly coupled to Bitcoin and looking sharply down. The only good thing is that the selling volume is relatively low.
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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Markets again woke up with a new bear push this morning. Bitcoin is approaching the $7000 level and little by little get closer to the previous low in early April at $6500 (4hr chart). I do not think the price will get down there as I expect final reversal before but the market seems to do not want to react uptrend yet.
EOS started to gain some up movement during yesterday but this morning also developed a big bear candle and is now just at the $12 support which seems to be holding so far.
Finally, Steem is also one of the coins losing more value today. It lost more than 8% and the price is getting closer and closer to the low it reached late March. Again, we see a big correlation between Bitcoin and the rest of coins so if the expected reversal starts in the "King Coin" all the rest of the coins will follow. We just need to be patient.
The red is like a slight heart bleed for me. Steem is looking quite unfriendly at the moment. Let’s behold correction asap
last hope is $7k resistance if it brakes that could go more down may be years low
There is very strong support level for bitcoin at $7,000 i really hope it's will not break
I agree. Prices seem to dip, hold for a week then dip again. Eagerly awaiting the price rise! It will be well overdue but i feel the crypto marke may be depressed for a while yet
BTC may hit 6.6K! Or maybe a jump to 7.5K!!
Hopefully , we will get a sudden rise too.
thank you for updating.
Yes I agree with that There is very strong support level for bitcoin at $7,000 i really hope it's will not break.....
Don't know how far down steem is going to go. Thank you for the analysis report.
market is doing down time by time.