The bulls muster more strength as Energy Web Token rises by 20% from January 18 to January 24.

Energy Web Token has been bullish last week as its price has been predominantly rising. The price swings of EWT pointed to the presence of medium volatility. The price action of the coin has been accompanied by the increased market capitalization of the said digital asset. There has been a growth in trading volume on the crypto coin's market in conjunction with the price movement.

While the volatility remains restrained, Energy Web Token isn't making any explosive moves. The market analysis reveals that the mild average volatility of 6% restrained EWT 's price swings. The most significant volatility occurred on January 18 and reached 7.55%. The asset has been the least volatile on January 22; at this time, the volatility stood at 0%. Due to the fact that the crypto coin has been modestly volatile, the market is unlikely to demonstrate any aggressive price swings.

While the overall situation on the Energy Web Token market was bullish, the trading session on January 18 kicked off at the $3.24 price level. During the opening day on January 18, EWT has had a 7% move to the downside. January 19 saw the coin going another 2% since the open, supported by the corresponding trading volume. On January 20, the market was moving to the upside as Energy Web Token went 3% up from the low at $3.04 to the high at $3.15. On January 22, EWT market moved by 6% in the bullish direction in concert with the trading volume. The price range of Energy Web Token on January 22 formed between $3.34 and $3.56, whereas the daily price extremities were $3.31 and $3.56. The trading period on January 23 saw the crypto coin forming the price amplitude between the open at $3.56 and the close at $3.48, also interacting with $3.37 (24H low) and $3.37 (24H high). January 24 presented us with the following price action data: the coin opened the period at $3.44 and went on to establish the low at $3.44 and the high of the day at $3.75 before closing the day at $3.63. Over the course of all trading sessions, the asset established the weekly low at $2.99 while buyers managed to push the price up to the weekly high at $3.75. Energy Web Token bounced 20% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.61.

As for the average trading volume in the time slot between January 18 and January 24, the Energy Web Token market registered the change from $1 416 397 to $1 950 460. We can draw the comparison with the period of 7 days that preceded the reviewed one when EWT ’s trading volume varied from $1 058 679 to $1 881 190. The 13% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 20%.

The change in the total market capitalization of Energy Web Token from January 18 to January 24 was as follows: on January 18, the capitalization was at $142 589 224, while on January 24, it reached the level of $165 348 070. Percentage-wise, the market capitalization of EWT has shifted by 16% in the past week. The said 16% percentage change in market capitalization of the coin was accompanied by the 20% fluctuation in the price of the underlying asset. The comparison with the Energy Web Token market capitalization seen during the time period January 11 - January 17 that occurred before the observed one, which changed by 1%, from $146 322 904 to $147 197 352, allows us to get a clearer understanding of current market conditions.

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Article date: January 24 | January 18 - 24

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