November 17 - November 23 price action review: Gala goes down by 8%.
The price of Gala was falling last from November 17 until November 23, giving enough reason to conclude that the market is bearish. The volatility of GALA has been medium throughout the reviewed period in correspondence with the price action. There has been a fall in the market capitalization of the asset during the period under review. The crypto coin's market experienced a falling trading volume during the observed time period, which fell in line with the price action.
The price action of Gala has been contained due to modest volatility. The average volatility of 6% was the reason why the price of GALA didn't put up any significant gains. The volatility of the coin reached its highest point at 8.01% during the observed period. The asset saw its volatility drop to the lowest level for the given period on November 21 as it shrank to 1.52%. The crypto coin's market didn't put up any surprises due to mild average volatility of 6%.
On November 17, the Gala market opened at $0.03, preceded by a period of bearish action. The losses of GALA after the weekly open on November 17 amounted to 2%. The coin market was down by 1% on November 18, the second day of the reviewed time period. The price range of Gala formed between $0.027 and $0.028 on November 19 as the price traveled 2% up. Over the next trading period (on November 20), GALA was moving down by 3% on the back of a congruous trading volume. The price range of Gala on November 21 formed between $0.03 and $0.02, whereas the daily price extremities were $0.025 and $0.027. The price action on November 22 saw the crypto coin moving along the following route: starting point at $0.02 and closing point at $0.03, while it also deviated to establish the high of the day at $0.025 and the low of the day at $0.024. As for the occurrences on November 23, the price of the coin bottomed at $0.025 and peaked at $0.026, while its daily range formed between $0.03 and $0.03. Over the course of all trading sessions, the asset established the weekly low at $0.024 while buyers managed to push the price up to the weekly high at $0.028. The difference between the lowest and the highest price points for the week was 8%, as the price moved in the $0.002 wide corridor.
Over the period of the last 7 days, November 17 to November 23, Gala saw its average trading volume fluctuate between $66 831 517 and $64 761 083. We can draw the comparison with the period of 7 days that preceded the reviewed one when GALA ’s trading volume varied from $77 669 552 to $235 784 897. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 57%, and the 8% price shift.
The total market capitalization of Gala during the past 7-day oscillated between $212 528 041, the starting point that was established on November 17, and $191 986 371 on November 23, the end date of the reviewed period. The rate of percentage change for the last week for GALA was 10%. While the market capitalization of the coin was altered by 10%, its price has made a 8% change. 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 $193 969 981 on November 10 and $221 650 641 on November 16, which translates to a 14% change.