Top Performers and Notable Moves
Since yesterday, the coin that fared the best out of the 133 coins in our index was Chainlink, whose price is up 58.14%. Rounding out the top four currencies for the day were Komodo, Viberate, and Qtum, which provided holders with returns of 23.41%, 21.05%, and 18.51% for the day. 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.
Was the Crypto Market as a Whole Up or Down?
In the past day, the average percent change in price for the coins in our index was a move up 1.6571%. On a more granular level, 50% of the coins we’re tracking were up while 50% of the coins were down. Below we can see the average daily change for the coins we are tracking our index over time. Since yesterday, 7 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: AirSwap, Dash, Bitcoin Gold, Zcoin, Ontology, Ardor, Bitcoin Cash. Volatility traders may also wish to note that NA 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