Top Performers and Notable Moves
Since yesterday, the coin that fared the best out of the 133 coins in our index was YOYO, whose price is up 15.62%. Rounding out the top four currencies for the day were Chainlink, Raiden Network Token, and Zcash, which provided holders with returns of 11.88%, 10.63%, and 7.86% 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
In the past day, the average percent change in price for the coins in our index was a move down -2.8816%. Specifically, 22 coins in our index were up while 111 were down. Below we can see the average daily change for the coins we are tracking our index over time. Since yesterday, 37 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 37 coins are: Status, Bancor, Crypto.com, OmiseGO, SingularDTV, Kyber Network, SONM, Verge, Moeda Loyalty Points, AirSwap, Request, Viberate, Power Ledger, Komodo, Raiden Network Token, Ambrosus, Basic Attention Token, Genesis Vision, Quantstamp, BitShares, Lisk, Bitcoin Diamond, Stellar, Cindicator, Waves, OST, aelf, NavCoin, IOST, Aeternity, POA Network, NEM, Wanchain, Golem, Augur, Civic, Dent. Likewise, volatility has continued to trend lower and contract for NA of the 133 coins in our index; contracting volatility often precedes a breakout, so these coins may be gearing up for a larger move. 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