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 Groestlcoin, which gave its holders a 20.69% day-over-day return. The next three best performing currencies were Loopring, Selfkey, and Aion, which gave holders daily returns of 14.24%, 7.09%, and 5.42%. 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.
The Crypto Big Picture
In the past day, the average percent change in price for the coins in our index was a move down -1.829%. On a more granular level, 19% of the coins we’re tracking were up while 81% of the 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?
Here’s a list of the specific coins that crossed their key moving average level: OAX, SingularDTV, Agrello, Basic Attention Token, AdEx, iExec RLC, Groestlcoin, Horizen, Civic. Also of note is that 121 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