September 13 - September 19 market wrap: Celo had a slight 5% drop.
The downward movement of the Celo price last week indicates the chosen market is bearish. The volatility associated with the CELO market was medium, as were its price fluctuations. The price action on the coin's market translated to the decline of market capitalization. The price action of the crypto coin last week took place on the back of decreased trading volume.
The situation on the Celo market allows us to characterise its volatility as mild. During the reviewed period, the volatility of CELO was in the middle register, averaging at 8%. The largest volatility for the given period occurred on September 13 and amounted to 9.15%. 0.83% was the rock bottom for the asset's volatility that was reached on September 17. Due to the fact that the crypto coin has been modestly volatile, the market is unlikely to demonstrate any aggressive price swings.
Celo began the day on September 13 at $0.89, while the broad background was bearish. On September 13, the first trading session of the reviewed time period, the market participants saw CELO moving down by 9%. The coin market was down by 1% on September 14, the second day of the reviewed time period. On September 15, the market was moving to the downside as Celo went 2% down from the low at $0.78 to the high at $0.81. On September 16, the value of CELO was in the range, with the market remaining flat. The price oscillation of Celo on September 17 was in the $0.79 - $0.81 range; at the same time, the price stretched out to reach the 24H low at $0.79 and the 24H high at $0.82. The crypto coin opened the trading session on September 18 at $0.81 and finalized it at $0.8; the highest point of price action was at $0.81, the lowest was detected at $0.8. September 19 presented us with the following price action data: the coin opened the period at $0.8 and went on to establish the low at $0.73 and the high of the day at $0.8 before closing the day at $0.76. $0.73 was the bottom of price action for the week, though the price went to the high extreme at $0.89 over the same time period. Celo bounced 5% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.04.
Over the period of the last 7 days, September 13 to September 19, Celo saw its average trading volume fluctuate between $19 071 475 and $11 197 555. We can draw the comparison with the period of 7 days that preceded the reviewed one when CELO ’s trading volume varied from $9 918 112 to $20 075 430. The 5% trading volume fluctuation between September 13 and September 19, as compared with the previous period, served as a basis for a 5% price move.
Bitcoin began the observed period September 13 - September 19, with the market capitalization of $407 377 542 and finalized it at the market capitalization level of $353 412 214. CELO experienced a 13% change in total market capitalization throughout the past seven days. When compared to the price fluctuations during the observed period of time, the 13% market capitalization movement was accompanied by a 5% change in the price of the coin. 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 $388 703 909 on September 6 and $407 802 974 on September 12, which translates to a 5% change.