ARC Governance analysis September 15 - September 21 : bears in all-out attack as the price collapses by 12%.
Between September 15 - September 21, ARC Governance has been mostly bearish as its price has been in the falling mode. ARCX was caught in a period of medium volatility, which was reflected in its price action. The price action on the coin's market translated to the decline of market capitalization. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.
The volatility has been suppressed, as the ARC Governance price action suggests. Our comprehensive data indicates that the price change of ARCX has been moderate on the back of the average volatility of 8% for the given time period. The highest point of the coin's volatility reached 8.42% in the analyzed time frame. The asset saw its volatility drop to the lowest level for the given period on September 19 as it shrank to 0.25%. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.
On September 15, the ARC Governance market opened at $0.07, preceded by a period of bearish action. The price action of the coin remained bearish on September 16 as the bears pushed the price down by 5%. The cautious traders dominated the price action on September 17, with the ARC Governance market remaining flat. The next trading session was characterized by more price action (as ARCX made a 7% move) on the back of the consistent trading volume. The price oscillation of ARC Governance on September 19 was in the $0.06 - $0.06 range; at the same time, the price stretched out to reach the 24H low at $0.06 and the 24H high at $0.06. While the 24H high and low on September 20 were at $0.06 and $0.06, respectively, the crypto coin had been traded in the area between the open at $0.06 and the close at $0.06. September 21 presented us with the following price action data: the coin opened the period at $0.06 and went on to establish the low at $0.055 and the high of the day at $0.056 before closing the day at $0.06. During the reviewed time period, the asset was able to achieve the weekly high at $0.07, though at a certain point, the bear pressurized the price down to the weekly low at $0.05. The price action on the weekly time frame made ARC Governance within the 12% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.008.
The past 7 days were marked by a change in average daily trading volume from $8 373 on September 15 to $264 on September 21. A more comprehensive analysis of ARCX price action requires the comparison of the trading volume between September 15 and September 21 with that from the preceding week that demonstrated how the trading volume fluctuated between $329 and $10 284. The asset demonstrated an 68% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 12%.
ARC Governance had its total market capitalization change from $2 535 922 on September 15 to $2 022 221 on September 21, the end of the examined time frame. When translated to percentage rate, the market capitalization of ARCX over the past week adjusted by 20%. The said 20% percentage change in market capitalization of the coin was accompanied by the 12% fluctuation in the price of the underlying asset. A more precise analysis of the ARC Governance market also requires a comparison with the change in market capitalization from the week before, which amounted to 12% on the back of the move from $3 062 124 to $2 688 446.