Yesterday’s Movers and Shakers
Over the past day, the top performing coin out of the 133 coins we are tracking was Tierion, which offered a day-over-day return 30.37%. Rounding out the top four currencies for the day were Qtum, HyperCash, and Nucleus Vision, which provided holders with returns of 30.28%, 20.43%, and 19.07% 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.
A Macro View of the Crypto Market
Since yesterday, the average change in the price of coins in our index was a move up 0.4152%. Drilling down, we see that 58 coins we’re tracking were up while 75 coins were down. The visualization below illustrates the average daily change in the price of the coins we’re tracking. 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: 0x, Bluzelle, NULS, BlockMason Credit Protocol, ICON, Golem, FunFair, Ripio Credit Network, PIVX, Genesis Vision, Nexus, QLC Chain. 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. 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