Bearish response: The Celo price melts by 4% between August 31 and September 6.

The analysis of last week’s price action shows that the Celo market is in the phase since the price has been moving downward. CELO has been going through a period of low volatility, which fell in line with the occurred price changes. The price action on the coin's market translated to the growth of market capitalization. The past week’s price movement of the crypto coin was accompanied by the growing trading volume on the corresponding market.

The volatility is low on the Celo market, as the latest data suggests. Our data shows that the average volatility of CELO didn't exceed 0.42%, which is why its price remained constrained. The peak of the coin's volatility for the given time period was reached on September 4 when this parameter went as low as 4.16%. The asset experienced the period of lowest volatility on September 5 when it fell to 0.42%. The unimpressive volatility of 0.42% showcases the overall weakness of the crypto coin.

The first day of price action was marked by the 3% move to the upside from the point where the trading session opened. September 1 saw the coin going another 1% since the open, supported by the corresponding trading volume. The cautious traders dominated the price action on September 2, with the Celo market remaining flat. The next trading session was characterized by more price action (as CELO made a 1% move) on the back of the consistent trading volume. The price range of Celo on September 4 formed between $0.82 and $0.83, whereas the daily price extremities were $0.82 and $0.84. The activity on the crypto coin's market on September 5 resulted in the asset being traded between $0.83, the open of the day, and $0.82, the close of the day; at some point, the price spiked to the daily high at $0.84 and briefly dropped to the daily low at $0.8. On the last day of the reviewed period, the coin was locked between $0.82 and $0.8, though the price managed to puncture these levels to reach the 24H high at $0.87 and the 24H low at $0.8. The asset posted the weekly low at $0.8, while the top of the weekly trading session was registered at $0.87. 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.

Celo ’s average trading volume on the opening day of the observed time period, August 31, stood at $11 758 111, while on the closing day of the same period, it moved to $9 918 112. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the CELO market had its volume ranging between $6 929 636 and $17 561 090. The 5% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 4%.

The total capitalization of Bitcoin at the start of the analyzed time period (August 31) amounted to $367 067 121; by the end of that period (September 6), the capitalization went to $388 703 909. 6% was the calculated percentage change for the CELO market over the past week. When compared to the price fluctuations during the observed period of time, the 6% market capitalization movement was accompanied by a 4% change in the price of the coin. During the week before the analyzed time frame, the market capitalization of Celo moved by 9% as it went from $415 071 321 to $378 099 020, and gave a better understanding of the general direction in which this market is flowing.

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Article date: September 6 | August 31 - September 6

Market reviews for similar coins for August 31 - September 6