📈 STEEM Investor Report 20 April 2017

Trading Recommendation:

Look for trades on hourly trends, price is pulling back, look to lock in profits

Investment Recommendation:

SELL or HOLD, fundamentals continue to decay, return to $0.15 to $0.18 level likely

Analyst Commentary:

The STEEM price rose 3.42% verse the USD over the past 24 hours on falling volume ($804,692) as the STEEM price consolidated after yesterday's steep decline. Most altcoins are pulling back over the past 12 hours which means STEEM is showing the strength to resist the overall group slide. Active accounts are up slightly and the % vested indicator held steady over the past 24 hours which shows renewed investment in the Steem blockchain. While the developments over the last 24 hours are a good sign of Steem strength, I believe we need another 24 hours to confirm the turn around before I change my recommendations. For traders, I do not advise joining the trend at this level, if you are already in, make sure you have stop limit orders to capture your profits because this will likely crash quickly. On the investor side, the % vested indicator does not appear to be breaking out of its downtrend, therefore, I expect the STEEM price to return to the $0.15 to $0.18 level after this altcoin pump ends. Pumps sometimes leave the price level slightly higher as some traders refuse to sell into the panic and hold their STEEM waiting for the next pump, so we could possibly stabilize at the $0.20 level.

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.