The Big Winners From Yesterday
Since the previous day, the coin whose price performed the best out of the 133 coins we are observing was Populous, which gave its holders a 38.95% day-over-day return. Rounding out the top four currencies for the day were Waves, Wanchain, and Komodo, which provided holders with returns of 18.48%, 13.06%, and 9.84% for the day. These moves were quite significant, in the sense that they were well outside of the volatility each of the respective coins had seen for the past two weeks.
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 1.158%. Drilling down, we see that 76 coins we’re tracking were up while 57 coins were down. The chart below shows the average daily change for all the coins in our index over time. 12 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
Here’s a list of the specific coins that crossed their key moving average level: Crypto.com, OmiseGO, BQX, YOYO, Populous, Time New Bank, Waves, PIVX, IOST, Nucleus Vision, Wanchain, Nebulas. Likewise, volatility has continued to trend lower and contract for NA 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