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 Syscoin, which gave its holders a 29.52% day-over-day return. Other notable currencies were NULS, Monetha, and Verge, which experienced daily returns of 18.97%, 15.51%, and 14.89% respectively. These moves were notable not only for their magnitude relative to other coins, but also because they were large and surprising relative to the volatility of each of these currencies over 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 2.8236%. Drilling down, we see that 106 coins we’re tracking were up while 27 coins were down. The chart below shows the average daily change for all the coins in our index over time. 1 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.
Key Price Technicals in the Crypto Market
Those 1 coins are: Blox. Volatility traders may also wish to note that 11 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