📉 STEEM Investor Report 25 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 fell 2.76% verse the USD over the past 24 hours on high volume as the Bitcoin rally kicked up altcoin trading activity and pushed down the STEEM price. The STEEM price appears to be remaining stable in the $0.22 to $0.26 price channel over the last 5 days. 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 and the % vested indicator held steady over the past 30 hours which indicates there was some significant investment mixed in with the trading. The price of SBD is elevated again from apparent price manipulation which is creating short lived arbitrage opportunities. 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.