The bleeding market: Diamond loses 9% between September 9 and September 15 as the selling pressure grows.
The analysis of last week’s price action shows that the Diamond market is in the phase since the price has been moving downward. The situation on the DMD market shows that the underlying asset is currently experiencing a period of medium volatility. The price action on the coin's market translated to the growth of market capitalization. The past week’s price movement of the crypto coin was accompanied by the growing trading volume on the corresponding market.
The unfolding situation in the Diamond market suggests that the reviewed digital asset is in the stage of mild volatility. During the reviewed period, the volatility of DMD was in the middle register, averaging at 12%. The coin has hit the highest point of volatility on September 9. The price of the asset had fluctuated the least on September 13, when the volatility plummeted to 0%. The crypto coin's market didn't put up any surprises due to mild average volatility of 12%.
The trading session on September 9 started with Diamond opening at $2.09 on the backdrop of neutral sentiment throughout the market. The first day of price action was marked by the 11% move to the upside from the point where the trading session opened. The market sentiment on September 10 stayed bullish as the coin obtained another 5%. The cautious traders dominated the price action on September 11, with the Diamond market remaining flat. On September 12, the value of DMD was in the range, with the market remaining flat. Diamond finalized the trading day of September 13 at $2.16 after opening it at $2.42, though the price broke through that corridor to hit the 24H high at $2.44 and the 24H low at $2.16. The activity on the crypto coin's market on September 14 resulted in the asset being traded between $2.16, the open of the day, and $2.12, the close of the day; at some point, the price spiked to the daily high at $2.21 and briefly dropped to the daily low at $2.12. The coin's market saw no changes on September 15, as the market flatlined. Over the course of all trading sessions, the asset established the weekly low at $2.09 while buyers managed to push the price up to the weekly high at $2.52. Diamond shaped the $0.2 price range over the week of price action, which constituted the 9% gap between the weekly low and the weekly high.
As for the average trading volume in the time slot between September 9 and September 15, the Diamond market registered the change from $12 622 to $15 632. We can draw the comparison with the period of 7 days that preceded the reviewed one when DMD ’s trading volume varied from $11 396 to $16 718. The asset demonstrated an 25% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 9%.
The total market capitalization of Diamond during the past 7-day oscillated between $7 761 123, the starting point that was established on September 9, and $8 030 119 on September 15, the end date of the reviewed period. When translated to percentage rate, the market capitalization of DMD over the past week adjusted by 3%. The said 3% percentage change in market capitalization of the coin was accompanied by the 9% fluctuation in the price of the underlying asset. In order to get a better grasp of the current state of affairs on the market, it’s important to draw the comparison between the reviewed period and the preceding seven days when the market capitalization ranged between $7 742 984 on September 2 and $7 773 989 on September 8, which translates to a 0% change.