📉 STEEM Investor Report 27 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 2.12% verse the USD over the past 24 hours on strong volume ($1,382,620) as Bitcoin and several altcoins made strong runs which drew trading out of STEEM. The STEEM price is back into the middle of the $0.22 to $0.26 channel it has maintained for over a week now. Active accounts rose slightly and the % vested indicator fell only slightly on a moderate power down day indicating some investment is occurring but not enough to overcome power downs. The price of SBD has dropped from its highs but is still elevated. 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.

Yesterday, I noticed that the @Steemit Account Had Stopped Powering Down. It's an interesting development which could have a positive impact on the STEEM price if it does not slow down development.

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.