Celo market stayed flat from August 26 - September 1.
Celo portrayed neutral behavior last week, with no changes in the price. 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. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.
The volatility has been suppressed, as the Celo price action suggests. The average volatility of 5% was the reason why the price of CELO didn't put up any significant gains. The coin was the most volatile on August 26, when the range of its price fluctuations reached 6.98%. The asset saw its volatility drop to the lowest level for the given period on August 30 as it shrank to 0.87%. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 5%.
On August 26, the Celo market opened at $0.91, preceded by a period of bearish action. On August 27, the price of the coin has shifted by 3% from the daily open on the back of a good trading volume. During the following trading period on August 28, the price of Celo oscillated between the low at $0.81 and the high at $0.82, while the price moved up by 1%. On August 29, the value of CELO was in the range, with the market remaining flat. The developments on the Celo market on August 30 started with the price opening at $0.81 and subsequently moving to $0.8, the close of the day, while dropping to the 24H low at $0.79 and spiking to the 24H high at $0.79. While the 24H high and low on August 31 were at $0.84 and $0.8, respectively, the crypto coin had been traded in the area between the open at $0.81 and the close at $0.83. Between the 24H high at $0.85 and the 24H low at $0.82, the coin was traded in the $0.84 - $0.84 price corridor. Throughout the reviewed time period, no changes were observed on the asset's market. There was no difference between the lowest and highest price points for the observed week, with the Celo market flatlining.
The trading activity on the Celo market over the past week - August 26 to September 1 - generated the average trading volume that went from $11 299 032 to $15 174 305. A more comprehensive analysis of CELO price action requires the comparison of the trading volume between August 26 and September 1 with that from the preceding week that demonstrated how the trading volume fluctuated between $11 888 106 and $24 523 395. The 27% trading volume fluctuation between August 26 and September 1, as compared with the previous period, served as a basis for a 0% price move.
The total capitalization of Bitcoin at the start of the analyzed time period (August 26) amounted to $415 675 039; by the end of that period (September 1), the capitalization went to $379 270 271. Percentage-wise, the market capitalization of CELO has shifted by 9% in the past week. The said 9% percentage change in market capitalization of the coin was accompanied by the 0% fluctuation in the price of the underlying asset. A better understanding of the lay of the land on the Celo market requires a comparison with the preceding week when the total market capitalization of Celo changed by 6% as it went from $436 742 805 to $415 675 039.