September 11 - September 17 price action review: Celo goes down by 8%.
The analysis of last week’s price action shows that the Celo market is in the bearish phase since the price has been moving downward. The volatility associated with the CELO market was medium, as were its price fluctuations. The asset saw its market capitalization falling over the reviewed period together with its price. The crypto coin's market experienced a falling trading volume during the observed time period, which fell in line with the price action.
The volatility has been suppressed, as the Celo price action suggests. Given that the average volatility on the CELO market didn't exceed 8%, the price action remained limited. The coin has hit the highest point of volatility on September 11. 0.26% was the rock bottom for the asset's volatility that was reached on September 15. The crypto coin's market didn't put up any surprises due to mild average volatility of 8%.
While the overall situation on the Celo market was bearish, the trading session on September 11 kicked off at the $0.88 price level. The first day of price action was marked by the 1% move to the upside from the point where the trading session opened. On September 12 the coin market stayed neutral, with no changes in the price. The bears dominated the price action during the following trading period as the price drifted 9% to the downside, having established the low for the reviewed time frame at $0.8, while the high was recorded at $0.89. Over the next trading period (on September 14), CELO was moving down by 1% on the back of a congruous trading volume. After the open at $0.8, Celo moved during September 15 in the range between the said open and the close at $0.78, having posted the 24H low at $0.78 and the 24H high at $0.81. No changes were observed on the crypto coin's market on September 16. As for the occurrences on September 17, the price of the coin bottomed at $0.79 and peaked at $0.82, while its daily range formed between $0.79 and $0.81. $0.78 was the bottom of price action for the week, though the price went to the high extreme at $0.91 over the same time period. The difference between the lowest and the highest price points for the week was 8%, as the price moved in the $0.07 wide corridor.
The past 7 days were marked by a change in average daily trading volume from $16 210 975 on September 11 to $12 747 702 on September 17. Over the week that came before the analyzed time span, the average trading volume of CELO ranged between $5 995 815 and $20 075 430. Percentage-wise, the trading volume of the asset changed by 23%, in comparison to the previous period, while its price experienced a 8% adjustment.
The total market capitalization of Celo during the past 7-day oscillated between $410 107 907, the starting point that was established on September 11, and $367 885 532 on September 17, the end date of the reviewed period. The rate of percentage change for the last week for CELO was 10%. The price of the coin changed by 8% on the back of the 10% shift in its total market capitalization. The comparison with the Celo market capitalization seen during the time period September 4 - September 10 that occurred before the observed one, which changed by 8%, from $379 907 963 to $410 264 095, allows us to get a clearer understanding of current market conditions.