The bears had a field day between November 7 and November 13 as Curve DAO Token got knocked down by 38%.
The analysis of last week’s price action shows that the Curve DAO Token market is in the bearish phase since the price has been moving downward. CRV was caught in a period of high volatility, which was reflected in its price action. The market capitalization of the asset has been decreasing in concert with the price of the coin. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.
According to our calculations, Curve DAO Token experiences larger than usual price fluctuations, which translates to the average volatility percentage of 27.25% during the period under review. The largest volatility percentage during the given time span was 27.25% - it occurred on November 7. The lowest volatility for the given period was spotted on November 13 and reached 1.36%. The increased volatility of 27.25% on the CRV market suggests large price swings in either direction, which is indicative of market instability.
The losses of CRV after the weekly open on November 7 amounted to 1%. The 18% move in the downward direction took place on the second day after the weekly open. The price range of Curve DAO Token formed between $0.6 and $0.78 on November 9 as the price traveled 23% down. The trading volume on November 10 rendered support to the 12% bullish move of CRV. Curve DAO Token finalized the trading day of November 11 at $0.65 after opening it at $0.69, though the price broke through that corridor to hit the 24H high at $0.7 and the 24H low at $0.65. While the 24H high and low on November 12 were at $0.66 and $0.62, respectively, the crypto coin had been traded in the area between the open at $0.65 and the close at $0.62. On the last day of the reviewed period, the coin was locked between $0.62 and $0.61, though the price managed to puncture these levels to reach the 24H high at $0.63 and the 24H low at $0.6. The highest point of the price action over the week was at $1.02 - the weekly low during the same period was established at $0.54. The price action on the weekly time frame made Curve DAO Token within the 38% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.38.
In the period November 7 - November 13, the trading volume of Curve DAO Token went from $76 736 895 on the first day of the reviewed period to $44 904 349 on the closing day. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the CRV market had its volume ranging between $45 687 897 and $169 878 000. The 42% trading volume fluctuation between November 7 and November 13, as compared with the previous period, served as a basis for a 38% price move.
The change in the total market capitalization of Curve DAO Token from November 7 to November 13 was as follows: on November 7, the capitalization was at $543 122 794, while on November 13, it reached the level of $380 138 207. 30% was the calculated percentage change for the CRV market over the past week. The price of the coin changed by 38% on the back of the 30% shift in its total market capitalization. Curve DAO Token ’s market capitalization from the week before changed by 11%, as the result of fluctuation between $511 155 556 and $543 122 794, to give a clearer vision of the current state of the market.