Yesterday’s Movers and Shakers
Over the past day, the top performing coin out of the 133 coins we are tracking was Nexus, which offered a day-over-day return 24.95%. Other notable currencies were Ripio Credit Network, Zcoin, and YOYO, which experienced daily returns of 11.8%, 11.5%, and 8.29% 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.
A Macro View of the Crypto Market
Since yesterday, the average change in the price of coins in our index was a move down -1.7626%. Drilling down, we see that 30 coins we’re tracking were up while 103 coins were down. Below we can see the average daily change for the coins we are tracking our index over time. 4 coins have crossed their 20 day moving average over the past 24 hours; these currencies may be of interest to traders interested in strategies involving trading around the 20 day moving average.
Currencies With Significant Price Moves
Those 4 coins are: GXS, Decentraland, Nexus, Ethereum. Also of note is that 55 of the 133 we track have contracting volatility. Volatility contraction often precedes a breakout, so this may be something to watch. Below is a chart that zooms in a bit more, showing 4 coins trading below their 20 day moving average and exhibiting contracting volatility. Are these coins ready for a rally?
Article by SixJupiter