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 Tael, which gave its holders a 25.21% day-over-day return. Other notable currencies were Tierion, NavCoin, and Insolar, which experienced daily returns of 10.48%, 10.11%, and 8.03% 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?
In the past day, the average percent change in price for the coins in our index was a move up 0.7991%. Specifically, 83 coins in our index were up while 50 were down. The chart below shows the average daily change for all the coins in our index over time. Since yesterday, 12 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 12 coins are: Syscoin, FunFair, NavCoin, Po.et, Gifto, IOTA, Ethereum Classic, Tierion, Nexus, Quantstamp, OST, PIVX. Volatility traders may also wish to note that 35 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