Yesterday’s Movers and Shakers
Over the past day, the top performing coin out of the 133 coins we are tracking was AirSwap, which offered a day-over-day return 25.48%. The next three best performing currencies were Waltonchain, CyberMiles, and Monetha, which gave holders daily returns of 25.31%, 21.55%, and 18.62%. 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 up 2.986%. Drilling down, we see that 102 coins we’re tracking were up while 31 coins were down. Below we can see the average daily change for the coins we are tracking our index over time. 7 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.
Which Currencies Had Major Price Moves?
Those 7 coins are: Waltonchain, AirSwap, CyberMiles, aelf, NEM, Holo, VeChain. 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. 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