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 Monetha, which gave its holders a 36.97% day-over-day return. Rounding out the top four currencies for the day were Wanchain, QuarkChain, and OAX, which provided holders with returns of 22.33%, 21.67%, and 11.13% 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.
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 1.3154%. Drilling down, we see that 83 coins we’re tracking were up while 50 coins were down. Below we can see the average daily change for the coins we are tracking our index over time. Since yesterday, 17 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.
Key Price Technicals in the Crypto Market
The coins that crossed their moving average are: OAX, Stratis, FunFair, SONM, Everex, Cindicator, Aave, Neblio, NavCoin, PIVX, Bluzelle, POA Network, Wanchain, Syscoin, Civic, QuarkChain, Dent. Likewise, volatility has continued to trend lower and contract for 57 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