Hello Steemers!
Today the price seems to be fighting for the trend direction, it's quite interesting as it seems to be fighting around the support/resistance line, neither side is showing much effort.
POLONIEX
4 hour Poloniex chart - Aug 21, 2016
4 hour Poloniex chart - Aug 22, 2016
After reaching the support level yesterday the price didn't bounce back up, instead it went down just a tiny bit further, bellow the support line. At the moment it seems to be in a try of breaking the ex-support line, which is now acting as a resistance line.
BITTREX
4 hour Bittrex chart - Aug 21, 2016
4 hour Bittrex chart - Aug 22, 2016
Bittrex as well broke it's support line, but unlike Poloniex had 2 small tries to break upwards after the line was broken, but unsuccessfully. Now trying to back up spiking all the way to the light blue resistance line. it is behaving much more similar to Poloniex then earlier today.
VOLUME COMPARISON
STEEM/BTC volume Bittrex Aug 21, 2016
STEEM/BTC volume Bittrex Aug 22, 2016
STEEM/BTC volume Poloniex Aug 21, 2016
STEEM/BTC volume Poloniex Aug 22, 2016
STEEM indexed global volume Aug 21, 2016
STEEM indexed global volume Aug 22, 2016
Coinmarketcap top volume cryptos Aug 21, 2016
Coinmarketcap top volume cryptos Aug 22, 2016
The volume picked up on both exchanges, it is a bit higher then yesterday, but nothing worth mentioning.
Although the volume didn't rise dramatically, STEEM went back up in the coinmarketcap taking the 14th place in volume today.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
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DISCLAIMER
I am showing multiple scenarios on the price movement, in the post itself I do not take any stance, either bullish or bearish. I am not responsible for neither you’re winning nor you're losses upon trading! the "comment" section is my personal opinion and does not mean I have to or do hold any positions in the given market.
Kind Regards, OZ :)