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 10.03%. Rounding out the top four currencies for the day were Steem, Enjin Coin, and Ethereum Classic, which provided holders with returns of 7.96%, 7.15%, and 5.56% for the day. 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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The Crypto Big Picture

Since yesterday, the average change in the price of coins in our index was a move down -1.4956%. Specifically, 27 coins in our index were up while 106 were down. The chart below shows the average daily change for all the coins in our index over time. Since yesterday, 11 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?

Here’s a list of the specific coins that crossed their key moving average level: district0x, Tierion, Decentraland, AdEx, Gifto, Steem, Wanchain, Syscoin, Groestlcoin, Dent, Ardor. Also of note is that 16 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?

READ  2019-05-10 Daily Update: Coins Down 1.37% Overall, 86 Coins Have Contracting Volatility

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Article by SixJupiter

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