A 12% drop on the Curve DAO Token market last week (September 16 - September 22) signals that the sellers are gaining strength.
The bearish behavior of Curve DAO Token last week was characterized by the occurrence of downswings. CRV has been going through a period of medium volatility, which fell in line with the occurred price changes. There has been a fall 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 falling trading volume on the corresponding market.
While the volatility remains restrained, Curve DAO Token isn't making any explosive moves. Given that the average volatility on the CRV market didn't exceed 5%, the price action remained limited. The most significant volatility occurred on September 16 and reached 5.61%. The asset's volatility was at its lowest on September 20 when it dropped to 0.04%. The crypto coin's market didn't put up any surprises due to mild average volatility of 5%.
While the overall situation on the Curve DAO Token market was bearish, the trading session on September 16 kicked off at the $1.06 price level. The first day of price action was marked by the 2% move to the downside from the point where the trading session opened. On September 17, the price of the coin has shifted by 2% from the daily open on the back of a good trading volume. The price range of Curve DAO Token formed between $1 and $1.08 on September 18 as the price traveled 6% down. On September 20, CRV market moved by 4% in the bearish direction in concert with the trading volume. After the open at $0.98, Curve DAO Token moved during September 20 in the range between the said open and the close at $0.96, having posted the 24H low at $0.96 and the 24H high at $0.99. No changes were observed on the crypto coin's market on September 21. Most trading activity on September 22 occurred in the space between $0.91 and $0.92; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.85, though the bulls had also staged the rally to the 24H high at $0.92. The highest point of the price action over the week was at $1.09 - the weekly low during the same period was established at $0.85. Traders saw Curve DAO Token covering the $0.12 distance between the weekly low and the weekly high, which constituted for a 12% move.
In the period September 16 - September 22, the trading volume of Curve DAO Token went from $110 989 900 on the first day of the reviewed period to $119 508 918 on the closing day. During the week before September 16, the trading volume of CRV flowed from $105 480 858 to $148 647 822. The 26% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 12%.
Bitcoin began the observed period September 16 - September 22, with the market capitalization of $412 627 469 and finalized it at the market capitalization level of $337 607 400. Percentage-wise, the market capitalization of CRV has shifted by 18% in the past week. The price of the coin changed by 12% on the back of the 18% shift in its total market capitalization. A more precise analysis of the Curve DAO Token market also requires a comparison with the change in market capitalization from the week before, which amounted to 5% on the back of the move from $442 090 061 to $418 700 863.