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 Holo, which gave its holders a 9.83% day-over-day return. Rounding out the top four currencies for the day were Nano, Bread, and Blox, which provided holders with returns of 5.56%, 5.49%, and 4.88% for the day. 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.
A Macro View of the Crypto Market
In the past day, the average percent change in price for the coins in our index was a move down -3.7962%. On a more granular level, 18% of the coins we’re tracking were up while 82% of the coins were down. Below we can see the average daily change for the coins we are tracking our index over time. 3 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
Those 3 coins are: Decentraland, Nexus, IOST. Likewise, volatility has continued to trend lower and contract for 42 of the 133 coins in our index; contracting volatility often precedes a breakout, so these coins may be gearing up for a larger move. 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