Top Performers and Notable Moves
Since the previous day, the coin whose price performed the best out of the 133 coins we are observing was Chainlink, which gave its holders a 24.09% day-over-day return. Other notable currencies were Cindicator, SingularityNET, and GXS, which experienced daily returns of 15.43%, 13.76%, and 8.19% respectively. 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?
Overall, the average change in coin price for the coins we’re tracking was up 0.2967%. Specifically, 58 coins in our index were up while 75 were down. The visualization below illustrates the average daily change in the price of the coins we’re tracking. Since yesterday, 19 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?
The coins that crossed their moving average are: Stratis, SingularDTV, NEO, Chainlink, Ethereum Classic, Enigma, XRP, Ripio Credit Network, DigixDAO, Populous, Cindicator, Aion, Bread, NavCoin, PIVX, Bluzelle, SingularityNET, Streamr DATAcoin, Siacoin. Also of note is that 118 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