The bullish pressure subsides between August 30 and September 5 as Gelato gains only 2%.
The upward movement of the Gelato price last week indicates the chosen market is. The price swings of GEL pointed to the presence of medium volatility. The price action on the coin's market translated to the decline of market capitalization. The price action of the crypto coin last week took place on the back of decreased trading volume.
While the volatility remains restrained, Gelato isn't making any explosive moves. The market analysis reveals that the mild average volatility of 6% restrained GEL 's price swings. The largest volatility for the given period occurred on August 30 and amounted to 7.41%. The asset's volatility was at its lowest on September 3 when it dropped to 0.28%. Due to the fact that the crypto coin has been modestly volatile, the market is unlikely to demonstrate any aggressive price swings.
The first day of price action was marked by the 1% move to the downside from the point where the trading session opened. August 31 saw the coin going another 2% since the open, supported by the corresponding trading volume. The bulls dominated the price action during the following trading period as the price drifted 1% to the upside, having established the low for the reviewed time frame at $0.38, while the high was recorded at $0.41. On September 3, GEL market moved by 2% in the bullish direction in concert with the trading volume. The developments on the Gelato market on September 3 started with the price opening at $0.41 and subsequently moving to $0.38, the close of the day, while dropping to the 24H low at $0.38 and spiking to the 24H high at $0.38. The price action on September 4 saw the crypto coin moving along the following route: starting point at $0.37 and closing point at $0.39, while it also deviated to establish the high of the day at $0.39 and the low of the day at $0.37. The coin's market saw no changes on September 5, as the market flatlined. The highest point of the price action over the week was at $0.41 - the weekly low during the same period was established at $0.37. The difference between the lowest and the highest price points for the week was 2%, as the price moved in the $0.006 wide corridor.
Gelato ’s average trading volume on the opening day of the observed time period, August 30, stood at $246 715, while on the closing day of the same period, it moved to $177 026. We can draw the comparison with the period of 7 days that preceded the reviewed one when GEL ’s trading volume varied from $234 394 to $301 470. Percentage-wise, the trading volume of the asset changed by 25%, in comparison to the previous period, while its price experienced a 2% adjustment.
Bitcoin began the observed period August 30 - September 5, with the market capitalization of $6 784 662 and finalized it at the market capitalization level of $6 738 903. GEL experienced a 1% change in total market capitalization throughout the past seven days. When compared to the price fluctuations during the observed period of time, the 1% market capitalization movement was accompanied by a 2% change in the price of the coin. A better understanding of the lay of the land on the Gelato market requires a comparison with the preceding week when the total market capitalization of Gelato changed by 6% as it went from $6 857 474 to $6 784 662.