The bears stepped up a gear on September 10 - September 16, dropping the price of Celo by 10%.
The bearish behavior of Celo last week was characterized by the occurrence of downswings. CELO was caught in a period of medium volatility, which was reflected in its price action. The asset saw its market capitalization falling over the reviewed period together with its price. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.
While the volatility remains restrained, Celo isn't making any explosive moves. Our comprehensive data indicates that the price change of CELO has been moderate on the back of the average volatility of 8% for the given time period. The volatility of the coin reached its highest point at 9.15% during the observed period. The asset saw its volatility drop to the lowest level for the given period on September 14 as it shrank to 0.26%. The crypto coin's market didn't put up any surprises due to mild average volatility of 8%.
On September 10, the Celo market opened at $0.88, preceded by a period of bearish action. There were no gains or losses to the CELO market on September 10, it remained flat. The market sentiment on September 11 stayed bullish as the coin obtained another 1%. The cautious traders dominated the price action on September 12, with the Celo market remaining flat. The next trading session was characterized by more price action (as CELO made a 9% move) on the back of the consistent trading volume. September 14 kicked off with Celo trading opening at $0.8 and then closing the session at $0.8, establishing the 24H low at $0.79 and 24H high at $0.8 in the process. On September 15, the crypto coin showcased the following price fluctuations: the trading session began at $0.8 and then traveled from the low of the day at $0.78 to the high of the day at $0.81, closing at $0.78. The coin's market saw no changes on September 16, as the market flatlined. The highest point of the price action over the week was at $0.91 - the weekly low during the same period was established at $0.78. The price action on the weekly time frame made Celo within the 10% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.09.
In the period September 10 - September 16, the trading volume of Celo went from $17 104 275 on the first day of the reviewed period to $14 966 490 on the closing day. We can draw the comparison with the period of 7 days that preceded the reviewed one when CELO ’s trading volume varied from $5 995 815 to $20 075 430. The 37% trading volume fluctuation between September 10 and September 16, as compared with the previous period, served as a basis for a 10% price move.
Bitcoin began the observed period September 10 - September 16, with the market capitalization of $410 264 095 and finalized it at the market capitalization level of $360 795 118. The rate of percentage change for the last week for CELO was 12%. The 12% change in the coin's market capitalization affected the price rate that saw a 10% shift in the same time period. Celo ’s market capitalization from the week before changed by 1%, as the result of fluctuation between $385 352 582 and $410 264 095, to give a clearer vision of the current state of the market.