Yesterday’s Movers and Shakers
Since yesterday, the coin that fared the best out of the 133 coins in our index was AdEx, whose price is up 13.78%. Other notable currencies were DigixDAO, 0x, and Zcash, which experienced daily returns of 6.62%, 5.53%, and 5.1% 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.
Was the Crypto Market as a Whole Up or Down?
Since yesterday, the average change in the price of coins in our index was a move down -4.5677%. On a more granular level, 9% of the coins we’re tracking were up while 91% of the coins were down. The chart below shows the average daily change for all the coins in our index over time. 18 coins are especially close to their 20 day moving average, and thus may be worth watching for technical traders who view the 20 day moving average as a key support/resistance level.
Key Price Technicals in the Crypto Market
The coins that crossed their moving average are: POA Network, Bancor, Cardano, Horizen, TRON, Nebulas, AirSwap, iExec RLC, XRP, Eidoo, Ontology, Siacoin, Dash, Bitcoin Gold, Bitcoin Diamond, Raiden Network Token, YOYO, Ardor. Also of note is that NA of the 133 we track have contracting volatility. Volatility contraction often precedes a breakout, so this may be something to watch. The chart below drills down a bit more, featuring 4 currencies with contracting volatility that are trading below their moving average. Are these coins forming a bottom?
Article by SixJupiter