📈 STEEM Investor Report 13 April 2017
Trading Recommendation:
Look for trades on hourly trends, possible start of rally?
Investment Recommendation:
SELL or HOLD, watch for possible break in decaying fundamentals
Analyst Commentary:
The STEEM price rose 3.75% verse the USD over the past 24 hours on weak but even higher volume than yesterday ($214,847) as the Bitcoin price price fell slightly and there was renewed investment in STEEM. The % vested figure increased slightly which shows a renewed level of investment into the Steem blockchain. Active accounts fell slightly but I expect it to rise over time due to slowly increasing rewards. For traders, the pricing pattern over that last week shows a support level at $0.15 with the price movement over the past 24 hours possibly signaling the start of a new trend. Thursday through Sunday should be a relatively low power down period with just over 1 million STEEM powering down. The quieter power down period may allow for a STEEM rally. On the investor side, if the % vested indicator can break it's down trend I believe we could see a significant rise in the STEEM price. We will need several days of rising % vested to confirm a new trend but the timing would be ideal with the rising reward payouts seen over the past few days.
Data Credit:
Steemchart.com
Coinmarketcap.com
Steemdb.com
Disclosure:
The report published above is based on my assessment of the cryptocurrency market. Investors should consider this report as only a single factor in making their investment decision. All investments involve market risk, including possible loss of principal invested. The author is a cryptocurrency investor and while he seeks to provide honest assessments to the best of his ability may have a conflict of interest that could affect the objectivity of this report.