3X Long Ethereum Token sees limited 1% gains between November 17 and November 23 as the market cools down.
The behavior of 3X Long Ethereum Token last week was characterized by the occurrence of upswings. The volatility of ETHBULL has been medium throughout the reviewed period in correspondence with the price action. The asset saw its market capitalization growing over the reviewed period together with its price. There has been a growth in trading volume on the crypto coin's market in conjunction with the price movement.
The situation on the 3X Long Ethereum Token market allows us to characterise its volatility as mild. The average volatility of 13% was the reason why the price of ETHBULL didn't put up any significant gains. The coin has hit the highest point of volatility on November 17. The price of the asset had fluctuated the least on November 21, when the volatility plummeted to 0.61%. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 13%.
On November 17, the first trading session of the reviewed time period, the market participants saw ETHBULL moving up by 2%. On November 18 the coin market stayed neutral, with no changes in the price. On November 19, the market was moving to the upside as 3X Long Ethereum Token went 15% up from the low at $0.46 to the high at $0.55. ETHBULL ’s performance during November 20 was the following: the price increased by 16% in conjunction with the acceptable trading volume. On November 21, 3X Long Ethereum Token finished the trading day with no changes to the flatlined market. While the 24H high and low on November 22 were at $0.57 and $0.5, respectively, the crypto coin had been traded in the area between the open at $0.57 and the close at $0.51. Between the 24H high at $0.53 and the 24H low at $0.46, the coin was traded in the $0.51 - $0.48 price corridor. The asset posted the weekly low at $0.45, while the top of the weekly trading session was registered at $0.58. Traders saw 3X Long Ethereum Token covering the $0.007 distance between the weekly low and the weekly high, which constituted for a 1% move.
As for the average trading volume in the time slot between November 17 and November 23, the 3X Long Ethereum Token market registered the change from $11 656 to $21 805. In order to have a better grasp of the ETHBULL 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 $26 484 to $4 202 606. The 96% trading volume fluctuation between November 17 and November 23, as compared with the previous period, served as a basis for a 1% price move.
The total capitalization of Bitcoin at the start of the analyzed time period (November 17) amounted to $1 094 962; by the end of that period (November 23), the capitalization went to $1 161 094. When translated to percentage rate, the market capitalization of ETHBULL over the past week adjusted by 6%. As a consequence of the 6% fluctuation in its market capitalization, the price of the coin changed by 1%. 3X Long Ethereum Token ’s market capitalization from the week before changed by 77%, as the result of fluctuation between $4 352 743 and $1 094 962, to give a clearer vision of the current state of the market.