Yesterday’s Movers and Shakers
Since the previous day, the coin whose price performed the best out of the 133 coins we are observing was Bitcoin Cash, which gave its holders a 1.86% day-over-day return. The next three best performing currencies were Bitcoin, Ethereum, and Komodo, which gave holders daily returns of 0.9%, -0.74%, and -1.49%. 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 -13.0296%. Drilling down, we see that 2 coins we’re tracking were up while 131 coins were down. The visualization below illustrates the average daily change in the price of the coins we’re tracking. Since yesterday, 6 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.
Which Currencies Had Major Price Moves?
Here’s a list of the specific coins that crossed their key moving average level: Chainlink, Bitcoin Gold, Waltonchain, CyberMiles, Populous, Blox. Volatility traders may also wish to note that 41 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