The November 10 - 16 market report: Celo plunges by 16% as sellers apply more pressure.
The price of Celo was falling last from November 10 until November 16, giving enough reason to conclude that the market is bearish. The volatility associated with the CELO market was medium, as were its price fluctuations. There has been a rise in the market capitalization of the asset during the period under review. The past week’s price movement of the crypto coin was accompanied by the growing trading volume on the corresponding market.
The volatility has been suppressed, as the Celo price action suggests. The average volatility of 5% was the reason why the price of CELO didn't put up any significant gains. The coin was the most volatile on November 10, when the range of its price fluctuations reached 6.69%. 0.6% was the rock bottom for the asset's volatility that was reached on November 14. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.
CELO made a 4% step in an upward direction during the first daily trading session that took place on November 10. November 11 saw the coin going another 6% since the open, supported by the corresponding trading volume. Celo posted the interim low at $0.46 on November 12 and then moved down by 2% and peaked at $0.49. The CELO market was down as the price shifted by 5% on November 13, against the backdrop of the sufficient trading volume. The price range of Celo on November 14 formed between $0.44 and $0.42, whereas the daily price extremities were $0.41 and $0.44. The crypto coin opened the trading session on November 15 at $0.42 and finalized it at $0.43; the highest point of price action was at $0.45, the lowest was detected at $0.42. As for the occurrences on November 16, the price of the coin bottomed at $0.42 and peaked at $0.44, while its daily range formed between $0.43 and $0.43. $0.41 was the bottom of price action for the week, though the price went to the high extreme at $0.53 over the same time period. The difference between the lowest and the highest price points for the week was 16%, as the price moved in the $0.08 wide corridor.
Over the period of the last 7 days, November 10 to November 16, Celo saw its average trading volume fluctuate between $27 539 422 and $13 040 075. Over the week that came before the analyzed time span, the average trading volume of CELO ranged between $17 270 190 and $50 840 071. The average trading volume of the asset fluctuated by 41% by comparison with the previous period, whereas the price change of 16% took place over the same period of time.
The total capitalization of Bitcoin at the start of the analyzed time period (November 10) amounted to $205 326 790; by the end of that period (November 16), the capitalization went to $208 147 959. 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 16% shift in the same time period. In the preceding week, November 3 - November 9, the market capitalization of Celo got a 18% adjustment ($334 892 053 to $275 872 504) in comparison to a 1% change last week; this allows getting a deeper insight into the market structure.