Bearish price action on May 19 to May 25 resulted in Frax Share by 8%.
The behavior of Frax Share last week was characterized by the occurrence of downswings. The volatility of FXS has been low throughout the reviewed period in correspondence with the price action. The price action on the coin's market translated to the decline of market capitalization. The price action of the crypto coin from last week stemmed from the decreasing trading volume.
According to our market analysis, the weak price movement of Frax Share was dictated by low volatility. The average volatility of FXS was as low as 0%, causing the dull price action. The most significant price swings occurred on May 23, when the volatility of the coin was at its highest for the given period at 3.39%. On May 24, the asset didn't make any noticeable price movements as its volatility dropped to the lowest level at 0%. Since the crypto coin is displaying low levels of volatility, the price action is likely to remain feeble.
The price of FXS took a 3% up upswing at the open of the weekly trading period. On May 20 the coin market stayed neutral, with no changes in the price. The bears dominated the price action during the following trading period as the price drifted 2% to the downside, having established the low for the reviewed time frame at $7.05, while the high was recorded at $7.27. On May 22, the value of FXS was in the range, with the market remaining flat. On May 23, Frax Share finished the trading day with no changes to the flatlined market. The activity on the crypto coin's market on May 24 resulted in the asset being traded between $7.05, the open of the day, and $6.86, the close of the day; at some point, the price spiked to the daily high at $7.06 and briefly dropped to the daily low at $6.8. As for the occurrences on May 25, the price of the coin bottomed at $6.71 and peaked at $6.94, while its daily range formed between $6.89 and $6.71. The asset posted the weekly low at $6.71, while the top of the weekly trading session was registered at $7.33. As a result of price action within the designated time period, the price movement range on the Frax Share market was established at $0.61 or 8% between the weekly low and the weekly high.
Over the period of the last 7 days, May 19 to May 25, Frax Share saw its average trading volume fluctuate between $13 992 720 and $9 712 828. We can draw the comparison with the period of 7 days that preceded the reviewed one when FXS ’s trading volume varied from $7 274 944 to $20 618 903. The 31% trading volume fluctuation between May 19 and May 25, as compared with the previous period, served as a basis for a 8% price move.
The past week saw the market capitalization of Frax Share making a shift from $520 503 150 on May 19 to $499 460 697 on May 25, the peak for the analyzed period. When translated to percentage rate, the market capitalization of FXS over the past week adjusted by 4%. While the market capitalization of the coin was altered by 4%, its price has made a 8% change. A better understanding of the lay of the land on the Frax Share market requires a comparison with the preceding week when the total market capitalization of Frax Share changed by 24% as it went from $427 393 134 to $520 503 150.