Market Snapshot - September 10th 2018
Top 10 Cryptos
At the moment of writing, top 10 crypto assets looked stable, with 9 of them in green and one in red.
After the last two days dip, markets look undecided, although the majority of assets are posting moderate gains.
STEEM And SBD
At the moment of writing, STEEM was trading, on average, at $0.78 on Coinmarketcap, slightly up from yesterday.
The hourly chart shows range trading just above 12k satoshis on very small volume.
The daily chart is still on a bearish trend, with very low volume as well
SBD was trading, at the moment of writing, at $0.95, identical with yesterday and still at the peg.
On the hourly chart, SBD is stabilizing under 15k satoshis, following BTC small appreciation
The daily chart is showing stabilization, on small volume
SBD to STEEM Ratio
At the moment of writing, according to steem.supply you could get 1.206 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: Another undecided start of the week, on low volume. Markets seem to be waiting for a relevant swing in one direction or another, leaning towards the bearish side. More caution should be exerted since low volumes are the perfect territory for even deeper market speculations. STEEM and SBD are holding their ground, for now. My personal outlook is still bearish short term, and neutral medium term.
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 a little reaction on the markets yesterday as Bitcoin experienced a nice bull spike in the morning reaching the price level it had before the last down leg. But after a strong bull candle, the long-term downtrend line acted as a resistance and did not let the market move further up. At night we had a new smaller drop and this morning the market is slightly moving towards the resistance again. Volume is very low again and there is no clear trend. The market could be trading below the resistance for a while until volume comes in and brings a reaction.
EOS had a more gradual uptrend reaction until it reached the $5,2 level and stopped moving up. The marked dropped slightly at night and this morning bulls have been pushing up to try to meet the $5,2 level again. Volume is also very low and no clear direction.
STEEM developed a similar pattern but during the morning was not able to reach previous highs. 20MA line is acting as a strong resistance and the chart shows a smooth gradual downtrend.
Still a long way to go
Seeing at eth and xrp they are back at the prices they were at exactly a year ago
The market started with a bullish run this week but on a smaller gains and I believe this week will be bullish because the market need to recover from last week loss
Nice to see steem staying relatively stable throughout all this. Let us keep hoping for a rebound
Market seems to be in a stand still and waiting for a signal... Let's hope for the best.
Yeah, but steem is not moving with the bitcoin, what could be the reason sir? Eos was 10 % up, but the steem was just 2 % up.
Btc is base for all crypro. I wish other coins will move with btc rise.
1.7% rise in bitcoin. Hope it will be high more
Good to see btc and some others are rising. Market looks strong than previous