The market crumbled last week (May 19 - May 25) as Cartesi lost 11%.
The analysis of last week’s price action shows that the Cartesi market is in the phase since the price has been moving downward. The volatility of CTSI has been low throughout the reviewed period in correspondence with the price action. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. The price action of the crypto coin last week took place on the back of decreased trading volume.
The analysis of events on the Cartesi market shows that the cryptocurrency under review is experiencing a period of low volatility. With the average volatility being as low as 0.89%, CTSI was incapable of making any sizable price swings. 5.91% was the maximum volatility that the coin managed to showcase on May 23. The asset experienced the period of lowest volatility on May 24 when it fell to 0.89%. The crypto coin's low volatility of 0.89% points to the weakness of all market participants.
The gains of CTSI after the weekly open on May 19 amounted to 1%. May 20 saw the coin going another 3% since the open, supported by the corresponding trading volume. On May 21, the market was moving to the downside as Cartesi went 3% down from the low at $0.18 to the high at $0.19. CTSI ’s performance during May 22 was the following: the price declined by 1% in conjunction with the acceptable trading volume. On May 23, Cartesi finished the trading day with no changes to the flatlined market. The trading period on May 24 saw the crypto coin forming the price amplitude between the open at $0.18 and the close at $0.17, also interacting with $0.17 (24H low) and $0.17 (24H high). The coin found the deepest trough (24H low) at $0.17 on May 25 and then exploded to the ceiling (24H high) at $0.18; the price range for that day was between $0.17 and $0.17. $0.17 was the bottom of price action for the week, though the price went to the high extreme at $0.21 over the same time period. Traders saw Cartesi covering the $0.02 distance between the weekly low and the weekly high, which constituted for a 11% move.
Cartesi ’s average trading volume on the opening day of the observed time period, May 19, stood at $49 452 194, while on the closing day of the same period, it moved to $11 857 710. In order to have a better grasp of the CTSI 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 $9 629 131 to $118 641 163. Percentage-wise, the trading volume of the asset changed by 28%, in comparison to the previous period, while its price experienced a 11% adjustment.
Cartesi had its total market capitalization change from $140 680 787 on May 19 to $125 475 486 on May 25, the end of the examined time frame. The rate of percentage change for the last week for CTSI was 11%. The price of the coin changed by 11% on the back of the 11% shift in its total market capitalization. A more precise analysis of the Cartesi market also requires a comparison with the change in market capitalization from the week before, which amounted to 23% on the back of the move from $122 683 715 to $151 385 868.