Buyers weakened their grip on the Celo market (August 27 - September 2) as the price rose only by 4%.

The analysis of last week’s price action shows that the Celo market is in the phase since the price has been moving upward. The volatility associated with the CELO market was low, as were its price fluctuations. The price action on the coin's market translated to the growth of market capitalization. The crypto coin's market experienced a growing trading volume during the observed time period, which fell in line with the price action.

The current state of affairs on the cryptocurrency market allows us to draw the conclusion that Celo is now going through the cycle of low volatility. Our data shows that the average volatility of CELO didn't exceed 0.45%, which is why its price remained constrained. Despite the overall weak performance, the volatility of the coin had its highest point at 4.16%. The price action on the asset's market was the weakest on September 1 when the volatility was at 0.45%, the minimum for the given period of time. Since the current volatility of the crypto coin is low, we expect the price fluctuations of the digital asset at hand to be insignificant.

The trading session on August 27 started with Celo opening at $0.84 on the backdrop of neutral sentiment throughout the market. The losses of CELO after the weekly open on August 27 amounted to 3%. The price action of the coin remained on August 28 as the pushed the price up by 1%. The cautious traders dominated the price action on August 29, with the Celo market remaining flat. The CELO market was down as the price shifted by 2% on August 30, against the backdrop of the sufficient trading volume. The price oscillation of Celo on August 31 was in the $0.81 - $0.83 range; at the same time, the price stretched out to reach the 24H low at $0.8 and the 24H high at $0.84. The crypto coin opened the trading session on September 1 at $0.84 and finalized it at $0.84; the highest point of price action was at $0.85, the lowest was detected at $0.82. The coin's market saw no changes on September 2, as the market flatlined. The asset posted the weekly low at $0.78, while the top of the weekly trading session was registered at $0.86. As a result of price action within the designated time period, the price movement range on the Celo market was established at $0.03 or 4% between the weekly low and the weekly high.

The trading activity on the Celo market over the past week - August 27 to September 2 - generated the average trading volume that went from $17 561 090 to $15 530 912. Over the week that came before the analyzed time span, the average trading volume of CELO ranged between $11 299 032 and $24 523 395. The 21% trading volume fluctuation between August 27 and September 2, as compared with the previous period, served as a basis for a 4% price move.

The change in the total market capitalization of Celo from August 27 to September 2 was as follows: on August 27, the capitalization was at $369 788 055, while on September 2, it reached the level of $393 987 469. The rate of percentage change for the last week for CELO was 7%. The said 7% percentage change in market capitalization of the coin was accompanied by the 4% fluctuation in the price of the underlying asset. The comparison with the Celo market capitalization seen during the time period August 20 - August 26 that occurred before the observed one, which changed by 4%, from $399 500 385 to $415 675 039, allows us to get a clearer understanding of current market conditions.

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Article date: September 2 | August 27 - September 2

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