The Big Winners From Yesterday
Since yesterday, the coin that fared the best out of the 133 coins in our index was QuarkChain, whose price is up 21.8%. Rounding out the top four currencies for the day were Blox, Gifto, and Holo, which provided holders with returns of 20.48%, 19.68%, and 16.89% 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.
The Crypto Big Picture
Since yesterday, the average change in the price of coins in our index was a move down -1.0276%. Drilling down, we see that 43 coins we’re tracking were up while 90 coins were down. Below we can see the average daily change for the coins we are tracking our index over time. 18 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?
Here’s a list of the specific coins that crossed their key moving average level: Bancor, district0x, Kyber Network, Dash, Bitcoin Gold, TRON, Basic Attention Token, GXS, Po.et, BitShares, Zcoin, Gifto, iExec RLC, Ontology, QuarkChain, Pundi X, Ardor, Holo. Also of note is that NA of the 133 we track have contracting volatility. Volatility contraction often precedes a breakout, so this may be something to watch. The chart below drills down a bit more, featuring 4 currencies with contracting volatility that are trading below their moving average. Are these coins forming a bottom?
Article by SixJupiter