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 CyberMiles, which gave its holders a 21.62% day-over-day return. Other notable currencies were Tierion, HyperCash, and Bread, which experienced daily returns of 17.18%, 11.29%, and 11.27% respectively. 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 up 3.7298%. On a more granular level, 92% of the coins we’re tracking were up while 8% of the coins were down. The chart below shows the average daily change for all the coins in our index over time. Since yesterday, 5 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.
Key Price Technicals in the Crypto Market
Those 5 coins are: Binance Coin, Tierion, CyberMiles, WePower, THETA. Likewise, volatility has continued to trend lower and contract for 19 of the 133 coins in our index; contracting volatility often precedes a breakout, so these coins may be gearing up for a larger move. The chart below drills down a bit more, featuring 4 currencies with contracting volatility that are trading below their moving average. Are these coins forming a bottom?
Article by SixJupiter