The torpid Celo had its price rise only by 1% last week (September 16 - September 22).
Between September 16 - September 22, Celo has been mostly as its price has been in the rising mode. The volatility of CELO has been medium throughout the reviewed period in correspondence with the price action. The price action on the coin's market translated to the decline of market capitalization. The price action of the crypto coin from last week stemmed from the decreasing trading volume.
The volatility has been suppressed, as the Celo price action suggests. The market analysis reveals that the mild average volatility of 5% restrained CELO 's price swings. The highest point of the coin's volatility reached 5.41% in the analyzed time frame. On September 20, the volatility of the asset was at its minimum at 0.38%. The mild volatility registered on the crypto coin's market over the said period allows us to expect moderate price movements in both directions without significant breakouts.
There were no gains or losses to the CELO market on September 16, it remained flat. September 17 saw the coin going another 2% since the open, supported by the corresponding trading volume. During the following trading period on September 18, the price of Celo oscillated between the low at $0.8 and the high at $0.81, while the price moved down by 1%. The next trading session was characterized by more price action (as CELO made a 5% move) on the back of the consistent trading volume. After the open at $0.77, Celo moved during September 20 in the range between the said open and the close at $0.75, having posted the 24H low at $0.75 and the 24H high at $0.78. The activity on the crypto coin's market on September 21 resulted in the asset being traded between $0.75, the open of the day, and $0.79, the close of the day; at some point, the price spiked to the daily high at $0.79 and briefly dropped to the daily low at $0.75. September 22 presented us with the following price action data: the coin opened the period at $0.76 and went on to establish the low at $0.73 and the high of the day at $0.79 before closing the day at $0.79. Over the course of all trading sessions, the asset established the weekly low at $0.73 while buyers managed to push the price up to the weekly high at $0.82. Traders saw Celo covering the $0.006 distance between the weekly low and the weekly high, which constituted for a 1% move.
As for the average trading volume in the time slot between September 16 and September 22, the Celo market registered the change from $14 966 490 to $17 337 302. 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 $11 767 277 and $19 071 475. Percentage-wise, the trading volume of the asset changed by 20%, in comparison to the previous period, while its price experienced a 1% adjustment.
The total capitalization of Bitcoin at the start of the analyzed time period (September 16) amounted to $360 795 118; by the end of that period (September 22), the capitalization went to $340 868 873. The percentage change in the total market capitalization of CELO amounted to 6%. The said 6% percentage change in market capitalization of the coin was accompanied by the 1% fluctuation in the price of the underlying asset. During the week before the analyzed time frame, the market capitalization of Celo moved by 4% as it went from $387 822 443 to $371 349 013, and gave a better understanding of the general direction in which this market is flowing.