September 20 - September 26 price action recap: Celo sees a weak 3% gain as the buyers take a step back.
Celo has been last week as its price has been predominantly rising. The volatility of CELO has been medium throughout the reviewed period in correspondence with the price action. There has been a rise in the market capitalization of the asset during the period under review. The price action of the crypto coin last week took place on the back of increased trading volume.
The volatility has been suppressed, as the Celo price action suggests. During the reviewed period, the volatility of CELO was in the middle register, averaging at 6%. The most significant volatility occurred on September 20 and reached 5.41%. The asset has been the least volatile on September 24; at this time, the volatility stood at 0.09%. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.
On September 20, the Celo market opened at $0.77, preceded by a period of neutral action. On September 20, the first trading session of the reviewed time period, the market participants saw CELO moving down by 2%. The price action of the coin remained on September 21 as the pushed the price up by 5%. On September 22, the market was moving to the upside as Celo went 5% up from the low at $0.73 to the high at $0.79. Over the next trading period (on September 23), CELO was moving down by 1% on the back of a congruous trading volume. Celo finalized the trading day of September 24 at $0.83 after opening it at $0.8, though the price broke through that corridor to hit the 24H high at $0.83 and the 24H low at $0.8. The activity on the crypto coin's market on September 25 resulted in the asset being traded between $0.83, the open of the day, and $0.79, the close of the day; at some point, the price spiked to the daily high at $0.83 and briefly dropped to the daily low at $0.79. September 26 presented us with the following price action data: the coin opened the period at $0.79 and went on to establish the low at $0.75 and the high of the day at $0.79 before closing the day at $0.78. The asset posted the weekly low at $0.73, while the top of the weekly trading session was registered at $0.83. The price action on the weekly time frame made Celo within the 3% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.02.
In the period September 20 - September 26, the trading volume of Celo went from $11 904 113 on the first day of the reviewed period to $9 138 938 on the closing day. 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 $6 391 337 and $19 071 475. The 8% 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 3%.
The total market capitalization of Celo during the past 7-day oscillated between $356 682 565, the starting point that was established on September 20, and $359 831 105 on September 26, the end date of the reviewed period. When translated to percentage rate, the market capitalization of CELO over the past week adjusted by 1%. The 1% change in the coin's market capitalization affected the price rate that saw a 3% shift in the same time period. 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 $407 377 542 on September 13 and $353 412 214 on September 19, which translates to a 13% change.