📈 STEEM Investor Report 23 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:b

The STEEM price was essentially flat with a rise of 0.08% verse the USD over the past 24 hours on lower volume as Bitcoin was essentially flat and other altcoins in the top 20 were mixed up and down. The STEEM price appears to have stabilized in the $0.22 to $0.26 price channel over the last 96 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 accounts fell slightly from Friday and 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'm on the road for the next week so reports will be coming through whenever I get downtime to produce them.

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.