This is very similar to the article I wrote 2 days ago - except, of course, it's 2 days later and nothing much has changed.
The updated graph above shows precisely what I said before. The "fake-out" would turn around and test the new support at the base of the downward trendline at about $500bn. But volume remains flaccid and there is little traction in either direction. We may be looking at Friday or the weekend for a resolution.
In the meantime, be prepared.
One serious advantage of STEEM over other cryptos is the ability to earn rewards whatever the underlying price and to later see those earnings multiply as the price rises. I'm sure this aspect did not escape the Weiss Ratings Agency.
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chart:coinmarketcap
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AAKOM project and the MAP forum.@rycharde manages the
A test of the downward slope which was resistance and should now be support seems appropriate.
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Thank you bro ;D
Well, as I write this, the market cap sits at a whisker over $500bn, testing it from the downside. Volume has increased. Stockmarkets have been pummeled for 2 days, so I suspect depends on what the US does today.
If there was a crypto options market, this would be the classic case of taking a double-option and seeing what happens.