ECOMI exploded by 23% in the period of October 29 - November 4 as the buyers got an upper hand.
The price of ECOMI was rising last from October 29 until November 4, giving enough reason to conclude that the market is bullish. OMI has been going through a period of high volatility, which fell in line with the occurred price changes. The price action on the coin's market translated to the growth of market capitalization. The crypto coin's market experienced a growing trading volume during the observed time period, which fell in line with the price action.
According to our calculations, ECOMI experiences larger than usual price fluctuations, which translates to the average volatility percentage of 19.91% during the period under review. The asset was the most volatile on October 29 when the registered volatility shot up to 19.91%. The volatility of the coin fell to its lowest on November 4 when it slid to 0.55%. 19.91% is too high a volatility for the OMI market to be considered stable and easily predictable.
While the overall situation on the ECOMI market was bullish, the trading session on October 29 kicked off at the $0.001 price level. During the opening day on October 29, OMI has had a 19% move to the upside. On October 30, the price of the coin has shifted by 1% from the daily open on the back of a good trading volume. During the following trading period on October 31, the price of ECOMI oscillated between the low at $0.0014 and the high at $0.0015, while the price moved down by 3%. On November 1, the value of OMI was in the range, with the market remaining flat. The price range of ECOMI on November 2 formed between $0.001 and $0.001, whereas the daily price extremities were $0.00144 and $0.00148. While the 24H high and low on November 3 were at $0.0015 and $0.0015, respectively, the crypto coin had been traded in the area between the open at $0.001 and the close at $0.002. November 4 presented us with the following price action data: the coin opened the period at $0.001 and went on to establish the low at $0.0015 and the high of the day at $0.0019 before closing the day at $0.002. During the reviewed time period, the asset was able to achieve the weekly high at $0.0019, though at a certain point, the bear pressurized the price down to the weekly low at $0.0012. The price action on the weekly time frame made ECOMI within the 23% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.0003.
Over the period of the last 7 days, October 29 to November 4, ECOMI saw its average trading volume fluctuate between $602 185 and $1 074 222. In order to have a better grasp of the OMI market, it’s necessary to compare the stats from the analyzed period with those from the week before, when the trading volume had gone from $440 117 to $760 940. The average trading volume of the asset fluctuated by 60% by comparison with the previous period, whereas the price change of 23% took place over the same period of time.
The total capitalization of Bitcoin at the start of the analyzed time period (October 29) amounted to $335 300 400; by the end of that period (November 4), the capitalization went to $416 323 208. When translated to percentage rate, the market capitalization of OMI over the past week adjusted by 24%. As a consequence of the 24% fluctuation in its market capitalization, the price of the coin changed by 23%. The comparison with the ECOMI market capitalization seen during the time period October 22 - October 28 that occurred before the observed one, which changed by 3%, from $333 938 644 to $324 984 956, allows us to get a clearer understanding of current market conditions.