Steem Rally Stalled

That good rally on steem prices stalled a bit since yesterday night, and lost momentum. However, there is lot of news in the horizon to increase the volatility in future. Volatility is good for trading and draw attention to traders in the exchanges. Let us look at the daily chart first :

As we can see from the daily chart above that April 03 green bar saw about 2.48 million volume on Bittrex. This is comparable to March 18 and 19 volumes on Bittrex, 2.41 million and 2.68 million, respectively. But volume tapered quickly to 770 thousands on April 04. This is expected. Volume always comes and goes, and it reflected in price as well. This should be better visible on the hourly chart.

On the hourly chart the price jumps are clearly visible. The first 3 bar push took the price from 2100 satoshis to 2700 satoshi. The the move paused a bit to catch up with VWAP (volume weighted average price), which is shown here in blue dots. The using VWAP as a base, two smaller rallies pushed prices up to high 2900 satoshi range. After that volume dried up, so the prices began to stall below the VWAP. It is currently trading at around 2700 at the time of this writing.

Again I like to say this, as I said on my previous post. Any rally in steem is good for all of us. So anyone who can help that I appreciate. I will keep a close eye on prices from this point onward and keep people updated as much as I can.