Bearish price action on September 10 to September 16 resulted in Cloakcoin by 6%.
The price of Cloakcoin was falling last from September 10 until September 16, giving enough reason to conclude that the market is. CLOAK was caught in a period of high volatility, which was reflected in its price action. The price action on the coin's market translated to the growth of market capitalization. The crypto coin's market experienced a growing trading volume during the observed time period, which fell in line with the price action.
During the reported period, Cloakcoin has been swinging for the fences, which resulted in an average volatility of 54.88% for the given period. The peak of the asset's volatility fell on September 10 after it went all the way to 54.88%. The coin saw its volatility drop to a minimum at 0.6% on September 16. 54.88% is too high a volatility for the CLOAK market to be considered stable and easily predictable.
The were dictating the terms on the Cloakcoin market on September 10 - the trading session opened at $0.23. On September 10, the first trading session of the reviewed time period, the market participants saw CLOAK moving up by 9%. The price action of the coin remained on September 11 as the pushed the price up by 7%. During the next trading day, the rate of change in the price of Cloakcoin stood at 17% having reached the low at $0.27 and the high at $0.32 as the advantage remained on the side of buyers. The CLOAK market was down as the price shifted by 10% on September 13, against the backdrop of the sufficient trading volume. September 14 kicked off with Cloakcoin trading opening at $0.28 and then closing the session at $0.15, establishing the 24H low at $0.15 and 24H high at $0.28 in the process. The trading period on September 15 saw the crypto coin forming the price amplitude between the open at $0.27 and the close at $0.23, also interacting with $0.23 (24H low) and $0.23 (24H high). On the last day of the reviewed period, the coin was locked between $0.26 and $0.24, though the price managed to puncture these levels to reach the 24H high at $0.28 and the 24H low at $0.14. Over the course of all trading sessions, the asset established the weekly low at $0.14 while buyers managed to push the price up to the weekly high at $0.32. Cloakcoin shaped the $0.02 price range over the week of price action, which constituted the 6% gap between the weekly low and the weekly high.
Cloakcoin ’s average trading volume on the opening day of the observed time period, September 10, stood at $364, while on the closing day of the same period, it moved to $512. A more comprehensive analysis of CLOAK price action requires the comparison of the trading volume between September 10 and September 16 with that from the preceding week that demonstrated how the trading volume fluctuated between $107 and $1 136. The 43% trading volume fluctuation between September 10 and September 16, as compared with the previous period, served as a basis for a 6% price move.
The total capitalization of Bitcoin at the start of the analyzed time period (September 10) amounted to $1 394 116; by the end of that period (September 16), the capitalization went to $1 609 140. 15% was the calculated percentage change for the CLOAK market over the past week. As a consequence of the 15% fluctuation in its market capitalization, the price of the coin changed by 6%. In the preceding week, September 3 - September 9, the market capitalization of Cloakcoin got a 10% adjustment ($1 347 412 to $1 210 176) in comparison to a 15% change last week; this allows getting a deeper insight into the market structure.