The capitulation of August 21 - August 27 : Celo experienced a 13% dive.

The downward movement of the Celo price last week indicates the chosen market is bearish. CELO has been going through a period of medium volatility, which fell in line with the occurred price changes. 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 price action of Celo has been contained due to modest volatility. We established that CELO didn't showcase any significant price action due to the market's mild average volatility of 6%. The coin has hit the highest point of volatility on August 21. The asset's volatility was at its lowest on August 25 when it dropped to 0.9%. Since the volatility of 6% can be deemed as mild, the crypto coin's market can be characterised as composed.

CELO made a 6% step in an upward direction during the first daily trading session that took place on August 21. The market sentiment on August 22 stayed bearish as the coin obtained another 7%. Celo posted the interim low at $0.87 on August 23 and then moved up by 3% and peaked at $0.9. CELO ’s performance during August 24 was the following: the price increased by 1% in conjunction with the acceptable trading volume. Celo finalized the trading day of August 25 at $0.9 after opening it at $0.92, though the price broke through that corridor to hit the 24H high at $0.92 and the 24H low at $0.9. While the 24H high and low on August 26 were at $0.91 and $0.84, respectively, the crypto coin had been traded in the area between the open at $0.91 and the close at $0.84. On the last day of the reviewed period, the coin was locked between $0.84 and $0.81, though the price managed to puncture these levels to reach the 24H high at $0.84 and the 24H low at $0.81. $0.81 was the bottom of price action for the week, though the price went to the high extreme at $0.94 over the same time period. As a result of price action within the designated time period, the price movement range on the Celo market was established at $0.12 or 13% between the weekly low and the weekly high.

Over the period of the last 7 days, August 21 to August 27, Celo saw its average trading volume fluctuate between $19 882 331 and $17 561 090. Over the week that came before the analyzed time span, the average trading volume of CELO ranged between $14 173 903 and $24 523 395. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 21%, and the 13% price shift.

Celo had its total market capitalization change from $411 818 492 on August 21 to $369 788 055 on August 27, the end of the examined time frame. The rate of percentage change for the last week for CELO was 10%. As a consequence of the 10% fluctuation in its market capitalization, the price of the coin changed by 13%. A more precise analysis of the Celo market also requires a comparison with the change in market capitalization from the week before, which amounted to 24% on the back of the move from $526 382 537 to $399 500 385.

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Article date: August 27 | August 21 - 27

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