Last time I wrote about Steem/SBD, there was a great buy wall and so it was clear what was going to happen: steem was ready to start a great rally against SBD. See here https://steemit.com/bitcoin/@marculisse/steem-sdb-great-buy-wall-appears-is-it-time-to-steem-to-rise-back-against-sdb
Now, situation seems to be more stable than in last days. Order book is equal by sell and by buy side - there is a $ 225 buy wall at 0.247$ level and, on the other side, a good380$ seel wall at 0.25 
Consider that today all altcoins are rallying. Bitcoin market dominance is under 50% and overall market cap is over 640 billion$. In this scenario, steem too is pumping really hard, +30% on exchanges, so it is obvious that people want to sell SDB for steem. In fact SBD has gained no more than 3% in last 24 hours.
So, this is a very interesting time to monitor. In my opinion there is only one rule here: the first wall (sell or buy) that will be torn down will trigger a great price spike in its direction. SO, for example, if the buy wall colapses, sellers will bring price back to 0.22.
This is a very interesting situation to monitor. And you? How much liquidity do you have in steem, and how much in SDB? What are your predictions on price? Have a nice day guys!