Yesterday’s Movers and Shakers

Since the previous day, the coin whose price performed the best out of the 134 coins we are observing was DigixDAO, which gave its holders a 10.54% day-over-day return. Other notable currencies were SingularityNET, Horizen, and Mainframe, which experienced daily returns of 6.72%, 4.81%, and 3.4% respectively. The moves in all these coins were a bit surprising, in that they were well outside of the trading range normally associated with each of the currencies in question.

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A Macro View of the Crypto Market

Since yesterday, the average change in the price of coins in our index was a move down -3.8014%. Specifically, 13 coins in our index were up while 121 were down. Below we can see the average daily change for the coins we are tracking our index over time. Since yesterday, 13 have crossed their 20 day moving average; these coins may be of interest to traders who believe the 20 day moving average may be a key level that draws traders in.

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Which Currencies Had Major Price Moves?

The coins that crossed their moving average are: district0x, FunFair, Dash, Everex, TRON, Agrello, Litecoin, Aion, VIBE, Insolar, Nano, SingularityNET, Mainframe. Also of note is that 22 of the 134 we track have contracting volatility. Volatility contraction often precedes a breakout, so this may be something to watch. Going further, below is a chart showing 4 currencies with contracting volatility that are trading below their 20 day moving average. Is this a technical sign the sellers are exhausted and the market for these coins is ready for a rally?

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Article by SixJupiter

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