Celo market stayed flat from August 28 - September 3.
Celo portrayed neutral behavior last week, with no changes in the price. CELO was caught in a period of low volatility, which was reflected in its price action. The market capitalization of the asset has been increasing in concert with the price of the coin. There has been a growth in trading volume on the crypto coin's market in conjunction with the price movement.
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. With the average volatility being as low as 0.45%, CELO was incapable of making any sizable price swings. The peak of the coin's volatility for the given time period was reached on September 1 when this parameter went as low as 4.16%. The weakest volatility level of 0.45% on the asset's market was registered on September 2. The volatility of 0.45% is too low for the crypto coin to engage in any attention-worthy price action.
The first day of price action was marked by the 1% move to the upside from the point where the trading session opened. On August 29 the coin market stayed neutral, with no changes in the price. The price range of Celo formed between $0.79 and $0.84 on August 30 as the price traveled 2% down. Over the next trading period (on August 31), CELO was moving up by 3% on the back of a congruous trading volume. The price range of Celo on September 1 formed between $0.84 and $0.84, whereas the daily price extremities were $0.82 and $0.85. No changes were observed on the crypto coin's market on September 2. Most trading activity on September 3 occurred in the space between $0.83 and $0.83; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.82, though the bulls had also staged the rally to the 24H high at $0.84. 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.
Over the period of the last 7 days, August 28 to September 3, Celo saw its average trading volume fluctuate between $9 750 353 and $11 655 266. Over the week that came before the analyzed time span, the average trading volume of CELO ranged between $11 299 032 and $19 882 331. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 22%, and the 0% price shift.
The total capitalization of Bitcoin at the start of the analyzed time period (August 28) amounted to $375 508 703; by the end of that period (September 3), the capitalization went to $385 352 582. CELO experienced a 3% change in total market capitalization throughout the past seven days. While the market capitalization of the coin was altered by 3%, its price has made a 0% change. In order to get a better grasp of the current state of affairs on the market, it’s important to draw the comparison between the reviewed period and the preceding seven days when the market capitalization ranged between $411 818 492 on August 21 and $369 788 055 on August 27, which translates to a 10% change.