📈 STEEM Investor Report 14 April 2017
Trading Recommendation:
Look for trades on hourly trends, possible start of rally?
Investment Recommendation:
SELL or HOLD, fundamentals continue to decay, no change expected for the next 2 weeks
Analyst Commentary:
The STEEM price rose 1.81% verse the USD over the past 24 hours on slightly lower volume than yesterday. The % vested indicator resumed its downtrend which leads me to believe yesterday was a abnormality. Active accounts fell slightly again 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 48 hours possibly signaling the start of a new trend. Today through Sunday should be a relatively low power down period with just over 767,500 STEEM powering down. The quieter power down period may allow for a STEEM rally. On the investor side, the % vested indicator does not appear to be breaking out of its downtrend, therefore, I expect the STEEM price to maintain current levels or fall until there is a change in the fundamentals (likely nothing significant for the next 2 weeks when the rewards pool will be filled).
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.