The Big Winners From Yesterday
Over the past day, the top performing coin out of the 133 coins we are tracking was Ark, which offered a day-over-day return 27.2%. The next three best performing currencies were Crypto.com, NavCoin, and Lunyr, which gave holders daily returns of 14.83%, 8.52%, and 8.03%. 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 -2.2091%. Drilling down, we see that 33 coins we’re tracking were up while 100 coins were down. The chart below shows the average daily change for all the coins in our index over time. 2 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.
Which Currencies Had Major Price Moves?
The coins that crossed their moving average are: Ark, Nano. Volatility traders may also wish to note that 7 of the 133 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