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 Metal, which gave its holders a 28.95% day-over-day return. The next three best performing currencies were Populous, WePower, and Litecoin, which gave holders daily returns of 13.64%, 10.03%, and 9.46%. 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.
Was the Crypto Market as a Whole Up or Down?
Since yesterday, the average change in the price of coins in our index was a move up 1.7153%. Drilling down, we see that 93 coins we’re tracking were up while 40 coins were down. Below we can see the average daily change for the coins we are tracking our index over time. 26 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.
Key Price Technicals in the Crypto Market
Those 26 coins are: 0x, SONM, Bluzelle, Kyber Network, Quantstamp, Monetha, Viberate, Crypto.com, Golem, Loopring, Ripio Credit Network, Raiden Network Token, VIBE, Lisk, NEO, Chainlink, Cindicator, Tael, NavCoin, iExec RLC, Bitcoin Diamond, Eidoo, Bitcoin Gold, Ark, Groestlcoin, QLC Chain. Also of note is that NA of the 133 we track have contracting volatility. Volatility contraction often precedes a breakout, so this may be something to watch. 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