Chia exploded by 27% in the period of January 18 - January 24 as the buyers got an upper hand.
Chia has been bullish last week as its price has been predominantly rising. The situation on the XCH market shows that the underlying asset is currently experiencing a period of medium volatility. There has been a rise in the market capitalization of the asset during the period under review. There has been a growth in trading volume on the crypto coin's market in conjunction with the price movement.
The volatility has been suppressed, as the Chia price action suggests. The average volatility of 10% was the reason why the price of XCH didn't put up any significant gains. The highest point of the coin's volatility reached 9.84% in the analyzed time frame. The asset's volatility was at its lowest on January 22 when it dropped to 0.38%. Due to the fact that the crypto coin has been modestly volatile, the market is unlikely to demonstrate any aggressive price swings.
The market sentiment on January 19 stayed bullish as the coin obtained another 9%. On January 20, the market was moving to the upside as Chia went 8% up from the low at $39.31 to the high at $42.58. The next trading session was characterized by more bullish price action (as XCH made a 10% move) on the back of the consistent trading volume. The developments on the Chia market on January 22 started with the price opening at $47.15 and subsequently moving to $44.99, the close of the day, while dropping to the 24H low at $44.56 and spiking to the 24H high at $44.56. The price action on January 23 saw the crypto coin moving along the following route: starting point at $44.96 and closing point at $45.3, while it also deviated to establish the high of the day at $46.15 and the low of the day at $44.51. Between the 24H high at $45.64 and the 24H low at $44.75, the coin was traded in the $45.1 - $45.47 price corridor. The highest point of the price action over the week was at $47.3 - the weekly low during the same period was established at $34.97. Chia shaped the $9.55 price range over the week of price action, which constituted the 27% gap between the weekly low and the weekly high.
Chia ’s average trading volume on the opening day of the observed time period, January 18, stood at $8 236 466, while on the closing day of the same period, it moved to $6 629 795. We can draw the comparison with the period of 7 days that preceded the reviewed one when XCH ’s trading volume varied from $4 499 152 to $10 787 325. The average trading volume of the asset fluctuated by 40% by comparison with the previous period, whereas the price change of 27% took place over the same period of time.
Bitcoin began the observed period January 18 - January 24, with the market capitalization of $226 140 091 and finalized it at the market capitalization level of $287 240 363. Percentage-wise, the market capitalization of XCH has shifted by 27% in the past week. When compared to the price fluctuations during the observed period of time, the 27% market capitalization movement was accompanied by a 27% change in the price of the coin. Chia ’s market capitalization from the week before changed by 13%, as the result of fluctuation between $192 869 083 and $226 140 091, to give a clearer vision of the current state of the market.