The torpid Gelato had its price rise only by 1% last week (August 29 - September 4).
The behavior of Gelato last week was characterized by the occurrence of upswings. The volatility associated with the GEL market was medium, as were its price fluctuations. The price action of the coin has been accompanied by the increased market capitalization of the said digital asset. The past week’s price movement of the crypto coin was accompanied by the growing trading volume on the corresponding market.
The volatility has been suppressed, as the Gelato price action suggests. The average volatility of 6% was the reason why the price of GEL didn't put up any significant gains. The most significant volatility occurred on August 29 and reached 7.41%. The asset's volatility was at its lowest on September 2 when it dropped to 0.28%. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.
The gains of GEL after the weekly open on August 29 amounted to 4%. The coin market was down by 1% on August 30, the second day of the reviewed time period. The price range of Gelato formed between $0.39 and $0.4 on August 31 as the price traveled 2% up. The trading volume on September 1 rendered support to the 1% bullish move of GEL. September 2 kicked off with Gelato trading opening at $0.4 and then closing the session at $0.41, establishing the 24H low at $0.4 and 24H high at $0.41 in the process. The price action on September 3 saw the crypto coin moving along the following route: starting point at $0.41 and closing point at $0.38, while it also deviated to establish the high of the day at $0.41 and the low of the day at $0.38. On the last day of the reviewed period, the coin was locked between $0.37 and $0.39, though the price managed to puncture these levels to reach the 24H high at $0.39 and the 24H low at $0.37. Over the course of all trading sessions, the asset established the weekly low at $0.37 while buyers managed to push the price up to the weekly high at $0.41. The difference between the lowest and the highest price points for the week was 1%, as the price moved in the $0.005 wide corridor.
In the period August 29 - September 4, the trading volume of Gelato went from $240 613 on the first day of the reviewed period to $155 975 on the closing day. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the GEL market had its volume ranging between $234 394 and $313 100. Percentage-wise, the trading volume of the asset changed by 24%, in comparison to the previous period, while its price experienced a 1% adjustment.
Bitcoin began the observed period August 29 - September 4, with the market capitalization of $6 418 799 and finalized it at the market capitalization level of $6 665 607. 4% was the calculated percentage change for the GEL market over the past week. While the market capitalization of the coin was altered by 4%, its price has made a 1% change. Gelato ’s market capitalization from the week before changed by 7%, as the result of fluctuation between $7 053 675 and $6 418 799, to give a clearer vision of the current state of the market.