The capitulation of September 5 - September 11 : Electrum Dark experienced a 36% dive.
The downward movement of the Electrum Dark price last week indicates the chosen market is. The situation on the ELD market shows that the underlying asset is currently experiencing a period of high volatility. The asset saw its market capitalization falling over the reviewed period together with its price. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.
The considerable chops and changes in the price of Electrum Dark resulted in average volatility of 918.44%. The volatility of the asset has reached the extreme after going as high as 918.44% - it happened on September 5. The quietest period on the coin's market happened on September 11 as the volatility failed to surpass the 0% mark. The high volatility of 918.44% points to the possibility of unpredictable and violent price action.
The gains of ELD after the weekly open on September 5 amounted to 2%. The 94% move in the downward direction took place on the second day after the weekly open. During the next trading day, the rate of change in the price of Electrum Dark stood at 12% having reached the low at $0.00012 and the high at $0.00014 as the advantage remained on the side of buyers. ELD ’s performance during September 8 was the following: the price increased by 911% in conjunction with the acceptable trading volume. The price range of Electrum Dark on September 9 formed between $0.001 and $0.001, whereas the daily price extremities were $0.0014 and $0.0015. The price action on September 10 saw the crypto coin moving along the following route: starting point at $0.001 and closing point at $0.002, while it also deviated to establish the high of the day at $0.0015 and the low of the day at $0.0015. The coin's market saw no changes on September 11, as the market flatlined. During the reviewed time period, the asset was able to achieve the weekly high at $0.002, though at a certain point, the bear pressurized the price down to the weekly low at $0.00008. Traders saw Electrum Dark covering the $0.0008 distance between the weekly low and the weekly high, which constituted for a 36% move.
The past 7 days were marked by a change in average daily trading volume from $0.92 on September 5 to $0.64 on September 11. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the ELD market had its volume ranging between $0.83 and $25.97. The asset demonstrated an 75% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 36%.
Bitcoin began the observed period September 5 - September 11, with the market capitalization of $9 113 and finalized it at the market capitalization level of $5 981. The percentage change in the total market capitalization of ELD amounted to 34%. The 34% change in the coin's market capitalization affected the price rate that saw a 36% shift in the same time period. 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 $9 655 on August 29 and $8 970 on September 4, which translates to a 7% change.