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 Quantstamp, which gave its holders a 32.2% day-over-day return. The next three best performing currencies were Metal, Storm, and OST, which gave holders daily returns of 23.51%, 18.48%, and 13.41%. 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
Since yesterday, the average change in the price of coins in our index was a move up 0.9704%. Drilling down, we see that 67 coins we’re tracking were up while 65 coins were down. The visualization below illustrates the average daily change in the price of the coins we’re tracking. 8 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
The coins that crossed their moving average are: BQX, Kyber Network, Moeda Loyalty Points, Monetha, Everex, Quantstamp, OST, Insolar. Volatility traders may also wish to note that 50 of the 133 we are monitoring have had their volatility contract over the past two weeks. Contracting volatility often leads to a big move in price, so this may be something to monitor. 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