Steem broke the channel it was trading in last night as it fell and took out the support line. Currently it has hit and looks to have bounced off the .786 fib line acting as support but will have to see how it plays out in the coming days. We could break the prior low as well as we did not take out the previous high on the upward move last week. If we do break this .786 support we could see a double bottom and solidify our support at the bottom of this move. It will be interesting to watch as the majority of cryptos have fallen drastically the last couple days. Could this be due to the issues surrounding the Japanese exchange the other day? Or is this just a normal correction/pull back? We will have to wait this out and be patient and wait for our signals of a reversal in trend.
Current Marketcap of cryptocurrencies:
Total Marketcap: $426,407,373,050
#1) Bitcoin $168,379,576,823 (Price $9974.99)
#5) Litecoin $10,715,213,529 (Price $196.90)
#28) Steem $847,893,630 (Price $3.39)
Yesterdays Marketcap of Cryptocurrencies
#1) Bitcoin $$182,830,731,239 (Price $10,832.40)
#5) Litecoin $11,877,430,619 (Price $214.72)
#25) Steem $979,966,148 (Price $3.92)