Bearish response: The 0x price melts by 2% between November 11 and November 17.

Between November 11 - November 17, 0x has been mostly bearish as its price has been in the falling mode. The price swings of ZRX pointed to the presence of low volatility. There has been a fall in the market capitalization of the asset during the period under review. The past week’s price movement of the crypto coin was accompanied by the falling trading volume on the corresponding market.

The current state of affairs on the cryptocurrency market allows us to draw the conclusion that 0x is now going through the cycle of low volatility. The average volatility of ZRX was as low as 0.94%, causing the dull price action. The maximum volatility of the coin stood at 5.34% in the analyzed time frame. The calmest period on the asset's market was registered on November 16, when the volatility failed to exceed 0.94%. The unimpressive volatility of 0.94% showcases the overall weakness of the crypto coin.

The first day of price action was marked by the 5% move to the downside from the point where the trading session opened. The market sentiment on November 12 stayed bearish as the coin obtained another 2%. The price range of 0x formed between $0.171 and $0.18 on November 13 as the price traveled 2% down. The ZRX market was up as the price shifted by 1% on November 14, against the backdrop of the sufficient trading volume. 0x finalized the trading day of November 15 at $0.19 after opening it at $0.18, though the price broke through that corridor to hit the 24H high at $0.19 and the 24H low at $0.18. The price action on November 16 saw the crypto coin moving along the following route: starting point at $0.19 and closing point at $0.18, while it also deviated to establish the high of the day at $0.19 and the low of the day at $0.18. On the last day of the reviewed period, the coin was locked between $0.18 and $0.18, though the price managed to puncture these levels to reach the 24H high at $0.18 and the 24H low at $0.18. $0.16 was the bottom of price action for the week, though the price went to the high extreme at $0.2 over the same time period. The price action on the weekly time frame made 0x within the 2% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.004.

0x ’s average trading volume on the opening day of the observed time period, November 11, stood at $22 602 426, while on the closing day of the same period, it moved to $10 732 043. In order to have a better grasp of the ZRX market, it’s necessary to compare the stats from the analyzed period with those from the week before, when the trading volume had gone from $14 452 659 to $36 716 448. The average trading volume of the asset fluctuated by 29% by comparison with the previous period, whereas the price change of 2% took place over the same period of time.

The past week saw the market capitalization of 0x making a shift from $165 476 134 on November 11 to $153 703 099 on November 17, the peak for the analyzed period. Percentage-wise, the market capitalization of ZRX has shifted by 7% in the past week. The 7% change in the coin's market capitalization affected the price rate that saw a 2% shift in the same time period. A better understanding of the lay of the land on the 0x market requires a comparison with the preceding week when the total market capitalization of 0x changed by 37% as it went from $222 421 924 to $165 476 134.

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Article date: November 17 | November 11 - 17

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