The Big Winners From Yesterday
Over the past day, the top performing coin out of the 134 coins we are tracking was iExec RLC, which offered a day-over-day return 14%. Other notable currencies were Request, Horizen, and DigixDAO, which experienced daily returns of 12.21%, 10.33%, and 10.01% respectively. These moves were notable not only for their magnitude relative to other coins, but also because they were large and surprising relative to the volatility of each of these currencies over the past two weeks.
A Macro View of the Crypto Market
Since yesterday, the average change in the price of coins in our index was a move down -1.7783%. Specifically, 37 coins in our index were up while 97 were down. The chart below shows the average daily change for all the coins in our index over time. 7 coins have crossed their 20 day moving average over the past 24 hours; these currencies may be of interest to traders interested in strategies involving trading around the 20 day moving average.
Key Price Technicals in the Crypto Market
Here’s a list of the specific coins that crossed their key moving average level: Crypto.com, TRON, Tierion, Eidoo, SingularityNET, Selfkey, Dent. Likewise, volatility has continued to trend lower and contract for 46 of the 134 coins in our index; contracting volatility often precedes a breakout, so these coins may be gearing up for a larger move. Below is a chart that zooms in a bit more, showing 4 coins trading below their 20 day moving average and exhibiting contracting volatility. Are these coins ready for a rally?
Article by SixJupiter