August 27 - September 2 price action recap: Diamond sees a weak 4% gain as the buyers take a step back.
The analysis of last week’s price action shows that the Diamond market is in the phase since the price has been moving upward. DMD has been going through a period of low volatility, which fell in line with the occurred price changes. Last week’s market conditions reflected on the market capitalization of the asset, which was rising. There has been a growth in trading volume on the crypto coin's market in conjunction with the price movement.
The analysis of events on the Diamond market shows that the cryptocurrency under review is experiencing a period of low volatility. Our data shows that the average volatility of DMD didn't exceed 0%, which is why its price remained constrained. The most significant price swings occurred on August 31, when the volatility of the coin was at its highest for the given period at 4.5%. The asset experienced the period of lowest volatility on September 1 when it fell to 0%. Since the current volatility of the crypto coin is low, we expect the price fluctuations of the digital asset at hand to be insignificant.
There were no gains or losses to the DMD market on August 27, it remained flat. On August 28 the coin market stayed neutral, with no changes in the price. Diamond posted the interim low at $1.99 on August 29 and then moved up by 4% and peaked at $2.1. The trading volume on August 30 rendered support to the 2% bearish move of DMD. The price oscillation of Diamond on August 31 was in the $2.07 - $2.09 range; at the same time, the price stretched out to reach the 24H low at $2.05 and the 24H high at $2.11. On September 1, the crypto coin showcased the following price fluctuations: the trading session began at $2.1 and then traveled from the low of the day at $2.05 to the high of the day at $2.1, closing at $2.07. Most trading activity on September 2 occurred in the space between $2.06 and $2.09; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $2.06, though the bulls had also staged the rally to the 24H high at $2.13. The highest point of the price action over the week was at $2.13 - the weekly low during the same period was established at $1.95. The price action on the weekly time frame made Diamond within the 4% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.09.
The past 7 days were marked by a change in average daily trading volume from $21 100 on August 27 to $11 396 on September 2. Over the week that came before the analyzed time span, the average trading volume of DMD ranged between $10 937 and $15 061. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 29%, and the 4% price shift.
The total capitalization of Bitcoin at the start of the analyzed time period (August 27) amounted to $7 239 045; by the end of that period (September 2), the capitalization went to $7 742 984. DMD experienced a 7% change in total market capitalization throughout the past seven days. While the market capitalization of the coin was altered by 7%, its price has made a 4% change. In the preceding week, August 20 - August 26, the market capitalization of Diamond got a 4% adjustment ($7 440 331 to $7 723 438) in comparison to a 7% change last week; this allows getting a deeper insight into the market structure.