The torpid Cloakcoin had its price rise only by 3% last week (September 15 - September 21).
The upward movement of the Cloakcoin price last week indicates the chosen market is. The situation on the CLOAK market shows that the underlying asset is currently experiencing a period of high volatility. The market capitalization of the asset has been decreasing in concert with the price of the coin. The price action of the crypto coin last week took place on the back of decreased trading volume.
The volatility of Cloakcoin was at 54.88% on average, which caused noticeable price fluctuations. The peak of the asset's volatility fell on September 15 after it went all the way to 54.88%. The volatility of the coin fell to its lowest on September 21 when it slid to 0.6%. The high volatility of 54.88% points to the possibility of unpredictable and violent price action.
On September 15, the first trading session of the reviewed time period, the market participants saw CLOAK moving down by 15%. On September 16, the price of the coin has shifted by 8% from the daily open on the back of a good trading volume. During the next trading day, the rate of change in the price of Cloakcoin stood at 9% having reached the low at $0.21 and the high at $0.26 as the advantage remained on the side of buyers. On September 19, CLOAK market moved by 2% in the bearish direction in concert with the trading volume. The price oscillation of Cloakcoin on September 19 was in the $0.25 - $0.21 range; at the same time, the price stretched out to reach the 24H low at $0.21 and the 24H high at $0.25. While the 24H high and low on September 20 were at $0.24 and $0.15, respectively, the crypto coin had been traded in the area between the open at $0.2 and the close at $0.2. September 21 presented us with the following price action data: the coin opened the period at $0.2 and went on to establish the low at $0.2 and the high of the day at $0.24 before closing the day at $0.24. The asset posted the weekly low at $0.14, while the top of the weekly trading session was registered at $0.28. Cloakcoin shaped the $0.006 price range over the week of price action, which constituted the 3% gap between the weekly low and the weekly high.
Cloakcoin ’s average trading volume on the opening day of the observed time period, September 15, stood at $423, while on the closing day of the same period, it moved to $211. Over the week that came before the analyzed time span, the average trading volume of CLOAK ranged between $17.02 and $2 439. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 58%, and the 3% price shift.
Cloakcoin had its total market capitalization change from $1 665 040 on September 15 to $1 180 047 on September 21, the end of the examined time frame. CLOAK experienced a 29% change in total market capitalization throughout the past seven days. As a consequence of the 29% fluctuation in its market capitalization, the price of the coin changed by 3%. A better understanding of the lay of the land on the Cloakcoin market requires a comparison with the preceding week when the total market capitalization of Cloakcoin changed by 25% as it went from $1 144 319 to $1 665 040.