The Big Winners From Yesterday
Since yesterday, the coin that fared the best out of the 133 coins in our index was Zcoin, whose price is up 28.8%. Rounding out the top four currencies for the day were Tierion, GXS, and Cardano, which provided holders with returns of 12.97%, 11.7%, and 11.38% for the day. 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.
A Macro View of the Crypto Market
Since yesterday, the average change in the price of coins in our index was a move up 1.8271%. Specifically, 90 coins in our index were up while 42 were down. The visualization below illustrates the average daily change in the price of the coins we’re tracking. 23 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.
Currencies With Significant Price Moves
The coins that crossed their moving average are: Binance Coin, OAX, Kyber Network, FunFair, NEO, Zcash, AirSwap, Bitcoin Gold, Power Ledger, Ark, Storj, Ambrosus, Bitcoin Diamond, AdEx, Cardano, Cindicator, Time New Bank, ICON, Eidoo, Lunyr, IoTeX, VeChain, Dock. 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. 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