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RE: STEEM Price Analysis – May 23, 2017
This is all a great breakdown of data. For me, I'm always wondering in simple terms "is this good?" or "is this bad?" :) I know you invite the reader to come up with their own conclusions. :)
..I think you're right when you said:
may stabilize in a previous trading range
Stability is good. I'd be happy with that..
It's actually a little bit of both. It's good that the price has corrections and can build strong support for future moves. Really, the trajectory of the most recent uptrend line wasn't sustainable, so to have it broken isn't really a shock. With everything else that's happening right now with BTC, Ethereum, and Zcash, it's actually almost expected.
It's kind of bad in the way that it happens...almost abruptly and despite strengthening statistics for users and transactions on the blockchain. It seems like trading is often detached from what's actually occurring on/with the Steem blockchain.
But I think the good outweighs the bad here and the uptrend should resume sooner rather than later. Shake out the weak hands, build some strong support, and prepare for the next leg up. If user numbers continue to increase like they have, this is going to be an interesting summer.
great post and glad this question was asked of you, im encouraged by all this, Feeling great things in long term no matter what
But there's no fun in stability.