The Big Winners From Yesterday
Since the previous day, the coin whose price performed the best out of the 134 coins we are observing was Bluzelle, which gave its holders a 17.86% day-over-day return. The next three best performing currencies were Syscoin, Binance Coin, and Bitcoin Cash, which gave holders daily returns of 15.36%, 11.82%, and 11.47%. 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 up 3.8587%. Drilling down, we see that 123 coins we’re tracking were up while 11 coins were down. The chart below shows the average daily change for all the coins in our index over time. 9 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 9 coins are: SingularDTV, Metal, AirSwap, Aeron, AdEx, iExec RLC, PIVX, IOST, Dock. Volatility traders may also wish to note that 19 of the 134 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. Below is a chart that zooms in a bit more, showing 4 coins trading below their 20 day moving average and exhibiting contracting volatility. Are these coins ready for a rally?
Article by SixJupiter