STEEM Investor Report 14 Feb 2017

Current Recommendation:

Sell or Hold

Analyst Commentary:

The STEEM price decreased 3.16% verse the USD over the past 24 hours on slightly higher volume than that seen over the past 72 hours (is the downward trend setting itself in with increasing volume?). The volume of liquid STEEM edged slightly higher to 39,171,242 from 39,118,663 seen yesterday indicating that we have not yet reach the value level where many users are powering up. The chart of the STEEM price over the last 14 days indicates a strong downward trend due to the oversupply of powered down STEEM (call a whale and ask them to ease up on the powering down! @abit @smooth @berniesanders). I've placed a yellow falling resistance level on the price chart, once the STEEM price is able to close above this line I believe we will enter into a bullish correction. There is currently not a strong buy wall on Poloniex until the $0.115 level, expect STEEM price to continue to fall over the next 24 hours.

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.