Market analysis November 18 - November 24 : Balancer posts a 14% rally.
The upward movement of the Balancer price last week indicates the chosen market is. BAL was caught in a period of medium volatility, which was reflected in its price action. No rise or fall was observed in the market capitalization of the coin during the period under review. No growth or loss has been observed in trading volume on the crypto coin's market.
The situation on the Balancer market allows us to characterise its volatility as mild. The average volatility of 14% was the reason why the price of BAL didn't put up any significant gains. The volatility of the coin reached its highest point at 17.34% during the observed period. The asset saw its volatility drop to the lowest level for the given period on November 22 as it shrank to 1.45%. The mild volatility registered on the crypto coin's market over the said period allows us to expect moderate price movements in both directions without significant breakouts.
On November 18, the Balancer market opened at $5.5, preceded by a period of neutral action. The first day of price action was marked by the 2% move to the upside from the point where the trading session opened. The market sentiment on November 19 stayed as the coin obtained another 2%. During the next trading day, the rate of change in the price of Balancer stood at 2% having reached the low at $5.38 and the high at $5.65 as the advantage remained on the side of sellers. The next trading session was characterized by more price action (as BAL made a 5% move) on the back of the consistent trading volume. After the open at $5.02, Balancer moved during November 22 in the range between the said open and the close at $5.22, having posted the 24H low at $4.95 and the 24H high at $5.25. While the 24H high and low on November 23 were at $5.56 and $5.25, respectively, the crypto coin had been traded in the area between the open at $5.25 and the close at $5.42. On the last day of the reviewed period, the coin was locked between $5.45 and $6.36, though the price managed to puncture these levels to reach the 24H high at $6.36 and the 24H low at $5.41. The highest point of the price action over the week was at $6.36 - the weekly low during the same period was established at $4.95. As a result of price action within the designated time period, the price movement range on the Balancer market was established at $0.77 or 14% between the weekly low and the weekly high.
Over the period of the last 7 days, November 18 to November 24, Balancer saw its average trading volume fluctuate between $7 104 996 and $6 793 414. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the BAL market had its volume ranging between $5 526 085 and $13 240 933. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 42%, and the 14% price shift.
BAL experienced no change in total market capitalization during the past week. The price of the coin was not changed, with a 0% shift in its total market capitalization. Balancer market capitalization from the week before experienced no change, as a result there were no price fluctuations.