Buyers weakened their grip on the Algorand market (September 7 - September 13) as the price rose only by 1%.

Between September 7 - September 13, Algorand has been mostly as its price has been in the rising mode. The price swings of ALGO pointed to the presence of medium volatility. The market capitalization of the asset has been increasing in concert with the price of the coin. The crypto coin's market experienced a growing trading volume during the observed time period, which fell in line with the price action.

The volatility has been suppressed, as the Algorand price action suggests. The average volatility of 6% was the reason why the price of ALGO didn't put up any significant gains. The coin was the most volatile on September 7, when the range of its price fluctuations reached 7.12%. On September 11, the volatility of the asset was at its minimum at 0.68%. The crypto coin's market didn't put up any surprises due to mild average volatility of 6%.

During the opening day on September 7, ALGO has had a 4% move to the upside. The market sentiment on September 8 stayed as the coin obtained another 2%. The bulls dominated the price action during the following trading period as the price drifted 6% to the upside, having established the low for the reviewed time frame at $0.3, while the high was recorded at $0.32. On September 11, ALGO market moved by 1% in the bearish direction in concert with the trading volume. The developments on the Algorand market on September 11 started with the price opening at $0.32 and subsequently moving to $0.33, the close of the day, while dropping to the 24H low at $0.32 and spiking to the 24H high at $0.32. The crypto coin opened the trading session on September 12 at $0.33 and finalized it at $0.32; the highest point of price action was at $0.33, the lowest was detected at $0.32. Between the 24H high at $0.32 and the 24H low at $0.3, the coin was traded in the $0.32 - $0.3 price corridor. The price action on the asset's market during the period between September 7 and September 13 topped at $0.33, while the bottom of the price range was established at $0.28. Algorand shaped the $0.002 price range over the week of price action, which constituted the 1% gap between the weekly low and the weekly high.

Over the period of the last 7 days, September 7 to September 13, Algorand saw its average trading volume fluctuate between $77 680 810 and $80 871 968. We can draw the comparison with the period of 7 days that preceded the reviewed one when ALGO ’s trading volume varied from $39 592 418 to $81 334 379. The 47% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 1%.

The past week saw the market capitalization of Algorand making a shift from $1 979 194 239 on September 7 to $2 229 860 375 on September 13, the peak for the analyzed period. The percentage change in the total market capitalization of ALGO amounted to 13%. The said 13% percentage change in market capitalization of the coin was accompanied by the 1% fluctuation in the price of the underlying asset. During the week before the analyzed time frame, the market capitalization of Algorand moved by 4% as it went from $2 020 871 852 to $2 102 875 130, and gave a better understanding of the general direction in which this market is flowing.

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Article date: September 13 | September 7 - 13

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