📈 STEEM Investor Report 22 April 2017

Trading Recommendation:

Look for trades on hourly trends, price may be stabilizing in current channel ($0.22 to $0.26), maintain stop loss at $0.20

Investment Recommendation:

SELL or HOLD, fundamentals continue to decay, price to remain at this level or decline

Analyst Commentary:

The STEEM price rose 3.70% verse the USD over the past 24 hours on close to average volume ($326,594) in line with most other altcoins as Bitcoin has fallen in price over the past 12 hours. The STEEM price appears to have stabilized in the $0.22 to $0.26 price channel over the last 72 hours. The correlation is not yet strong enough to bank on but watch if the price breaks out of the price channel because that will most likely signal an significant move. Active account information was not available today but the % vested indicator has resumed its decline and I expect it to continue to do so as we approach the Monday large power down. For traders, I would pay close attention to the current price channel and place a stop loss below to price channel in case the price moves down quickly ($0.20 level). On the investor side, the % vested indicator remains in its downtrend and therefore I expect the price to remain stable or decline from here.

I will be traveling on a business trip for the next week and a half so my reports may become inconsistent until I return. Good luck out there.

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.