Buyers kept pushing the Celo market to the upside between November 14 and November 20 as the price increased by 9%.
The analysis of last week’s price action shows that the Celo market is in the phase since the price has been moving upward. The volatility of CELO has been low 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 past week’s price movement of the crypto coin was accompanied by the growing trading volume on the corresponding market.
According to our market analysis, the weak price movement of Celo was dictated by low volatility. The insignificant movement of the CELO market came as the result of low average volatility that amounted to 0.6%. In the period between November 14 and November 20, the volatility of the coin peaked at 0.6%. The price action on the asset's market was the weakest on November 19 when the volatility was at 0.6%, the minimum for the given period of time. The low volatility of 0.6% means that the crypto coin is weak and incapable of any sizable price swings.
The opening price of Celo was at $0.44 on November 14, with having a more visible presence on the market. During the opening day on November 14, CELO has had a 6% move to the downside. The coin market was up by 3% on November 15, the second day of the reviewed time period. The price range of Celo formed between $0.42 and $0.44 on November 16 as the price traveled 1% down. The trading volume on November 17 rendered support to the 5% bullish move of CELO. Celo finalized the trading day of November 18 at $0.45 after opening it at $0.44, though the price broke through that corridor to hit the 24H high at $0.46 and the 24H low at $0.44. The price action on November 19 saw the crypto coin moving along the following route: starting point at $0.46 and closing point at $0.47, while it also deviated to establish the high of the day at $0.47 and the low of the day at $0.46. The coin found the deepest trough (24H low) at $0.45 on November 20 and then exploded to the ceiling (24H high) at $0.48; the price range for that day was between $0.47 and $0.46. The asset posted the weekly low at $0.41, while the top of the weekly trading session was registered at $0.48. The price action on the weekly time frame made Celo within the 9% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.04.
Celo ’s average trading volume on the opening day of the observed time period, November 14, stood at $12 211 622, while on the closing day of the same period, it moved to $7 665 899. During the week before November 14, the trading volume of CELO flowed from $11 022 572 to $50 840 071. The 60% trading volume fluctuation between November 14 and November 20, as compared with the previous period, served as a basis for a 9% price move.
Bitcoin began the observed period November 14 - November 20, with the market capitalization of $204 338 242 and finalized it at the market capitalization level of $221 557 964. Percentage-wise, the market capitalization of CELO has shifted by 8% in the past week. As a consequence of the 8% fluctuation in its market capitalization, the price of the coin changed by 9%. In the preceding week, November 7 - November 13, the market capitalization of Celo got a 38% adjustment ($344 063 012 to $213 262 293) in comparison to a 8% change last week; this allows getting a deeper insight into the market structure.