The bullish pressure subsides between August 29 and September 4 as Celo gains only 2%.
The behavior of Celo last week was characterized by the occurrence of upswings. The volatility associated with the CELO market was low, as were its price fluctuations. The asset saw its market capitalization growing over the reviewed period together with its price. There has been a growth in trading volume on the crypto coin's market in conjunction with the price movement.
The analysis of events on the Celo market shows that the cryptocurrency under review is experiencing a period of low volatility. The average volatility of CELO was as low as 0.42%, causing the dull price action. The peak of the coin's volatility for the given time period was reached on September 2 when this parameter went as low as 4.16%. On September 3, the asset didn't make any noticeable price movements as its volatility dropped to the lowest level at 0.42%. The crypto coin's low volatility of 0.42% points to the weakness of all market participants.
There were no gains or losses to the CELO market on August 29, it remained flat. The coin market was down by 2% on August 30, the second day of the reviewed time period. On August 31, the market was moving to the upside as Celo went 3% up from the low at $0.8 to the high at $0.84. Over the next trading period (on September 1), CELO was moving up by 1% on the back of a congruous trading volume. On September 2, Celo finished the trading day with no changes to the flatlined market. On September 3, the crypto coin showcased the following price fluctuations: the trading session began at $0.83 and then traveled from the low of the day at $0.82 to the high of the day at $0.84, closing at $0.83. Most trading activity on September 4 occurred in the space between $0.82 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. $0.78 was the bottom of price action for the week, though the price went to the high extreme at $0.86 over the same time period. Traders saw Celo covering the $0.01 distance between the weekly low and the weekly high, which constituted for a 2% move.
The trading activity on the Celo market over the past week - August 29 to September 4 - generated the average trading volume that went from $6 929 636 to $5 995 815. In order to have a better grasp of the CELO 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 $9 750 353 to $17 561 090. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 17%, and the 2% price shift.
The total market capitalization of Celo during the past 7-day oscillated between $362 449 327, the starting point that was established on August 29, and $379 907 963 on September 4, the end date of the reviewed period. When translated to percentage rate, the market capitalization of CELO over the past week adjusted by 5%. The price of the coin changed by 2% on the back of the 5% shift in its total market capitalization. During the week before the analyzed time frame, the market capitalization of Celo moved by 12% as it went from $428 777 834 to $375 508 703, and gave a better understanding of the general direction in which this market is flowing.