Top Performers and Notable Moves
Since yesterday, the coin that fared the best out of the 134 coins in our index was Ripio Credit Network, whose price is up 33.37%. Rounding out the top four currencies for the day were Enjin Coin, POA Network, and NEM, which provided holders with returns of 21.78%, 15.96%, and 11.69% for the day. These moves were quite significant, in the sense that they were well outside of the volatility each of the respective coins had seen for 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 up 2.9172%. On a more granular level, 81% of the coins we’re tracking were up while 19% of the coins were down. The chart below shows the average daily change for all the coins in our index over time. 9 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.
Currencies With Significant Price Moves
The coins that crossed their moving average are: EOS, Viberate, TRON, Enjin Coin, Ripio Credit Network, Waves, Ontology, Syscoin, Ardor. Volatility traders may also wish to note that 103 of the 134 we are monitoring have had their volatility contract over the past two weeks. Contracting volatility often leads to a big move in price, so this may be something to monitor. 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?
Article by SixJupiter