The Big Winners From Yesterday
Since the previous day, the coin whose price performed the best out of the 133 coins we are observing was Enjin Coin, which gave its holders a 18.14% day-over-day return. Rounding out the top four currencies for the day were Etherparty, Insolar, and Storj, which provided holders with returns of 15.21%, 8.69%, and 6.86% for the day. These moves were quite significant, in the sense that they were well outside of the volatility each of the respective coins had seen for the past two weeks.
A Macro View of the Crypto Market
Overall, the average change in coin price for the coins we’re tracking was down -0.4819%. Drilling down, we see that 57 coins we’re tracking were up while 76 coins were down. The visualization below illustrates the average daily change in the price of the coins we’re tracking. Since yesterday, 16 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.
Currencies With Significant Price Moves
Those 16 coins are: Everex, Storj, Aeron, Quantstamp, Etherparty, ICON, OST, Neblio, NavCoin, AppCoins, VIBE, Syscoin, Civic, Nexus, Dock, Bitcoin. Also of note is that 41 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