Yesterday’s Movers and Shakers
Over the past day, the top performing coin out of the 134 coins we are tracking was Quantstamp, which offered a day-over-day return 9.44%. The next three best performing currencies were Chainlink, QuarkChain, and Ardor, which gave holders daily returns of 9.1%, 8.87%, and 7.37%. 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.
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 up 0.6675%. Drilling down, we see that 83 coins we’re tracking were up while 51 coins were down. The visualization below illustrates the average daily change in the price of the coins we’re tracking. Since yesterday, 2 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
Those 2 coins are: Genesis Vision, Populous. Likewise, volatility has continued to trend lower and contract for 11 of the 134 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 0 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