The Big Winners From Yesterday
Over the past day, the top performing coin out of the 133 coins we are tracking was GXS, which offered a day-over-day return 22.93%. Other notable currencies were Chainlink, Enigma, and Tierion, which experienced daily returns of 12.99%, 9.1%, and 7.42% 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 0.474%. On a more granular level, 47% of the coins we’re tracking were up while 53% of the coins were down. Below we can see the average daily change for the coins we are tracking our index over time. 16 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.
Currencies With Significant Price Moves
The coins that crossed their moving average are: Crypto.com, SingularDTV, SONM, Chainlink, Moeda Loyalty Points, Metal, Ethereum Classic, Enigma, Zcash, Tierion, Cindicator, OST, AppCoins, Streamr DATAcoin, Mainframe, VeChain. 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