Yesterday’s Movers and Shakers
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 28.67% day-over-day return. Other notable currencies were Storm, POA Network, and QLC Chain, which experienced daily returns of 13.72%, 13.6%, and 12.5% respectively. 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 3.0844%. On a more granular level, 83% of the coins we’re tracking were up while 17% of the coins were down. Below we can see the average daily change for the coins we are tracking our index over time. 14 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.
Which Currencies Had Major Price Moves?
The coins that crossed their moving average are: Stratis, FunFair, Ethereum Classic, Po.et, Quantstamp, Tael, OST, Neblio, POA Network, Wanchain, QLC Chain, Syscoin, Civic, Streamr DATAcoin. Also of note is that 72 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