The capitulation of September 6 - September 12 : Gelato experienced a 38% dive.

Between September 6 - September 12, Gelato has been mostly bearish as its price has been in the falling mode. The situation on the GEL market shows that the underlying asset is currently experiencing a period of high volatility. There has been a fall in the market capitalization of the asset during the period under review. The price action of the crypto coin last week took place on the back of decreased trading volume.

During the reported period, Gelato has been swinging for the fences, which resulted in an average volatility of 30.01% for the given period. September 6 was the day when the asset was the most volatile, with the volatility going as high as 30.01%. The coin's market was the least volatile on September 12 when this particular metric didn’t exceed 0.28%. 30.01% is too high a volatility for the GEL market to be considered stable and easily predictable.

The price of GEL took a 2% down downswing at the open of the weekly trading period. The 4% move in the downward direction took place on the second day after the weekly open. The price range of Gelato formed between $0.25 and $0.4 on September 8 as the price traveled 30% down. The GEL market was up as the price shifted by 7% on September 9, against the backdrop of the sufficient trading volume. The developments on the Gelato market on September 10 started with the price opening at $0.26 and subsequently moving to $0.28, the close of the day, while dropping to the 24H low at $0.26 and spiking to the 24H high at $0.26. On September 11, the crypto coin showcased the following price fluctuations: the trading session began at $0.28 and then traveled from the low of the day at $0.27 to the high of the day at $0.28, closing at $0.27. Most trading activity on September 12 occurred in the space between $0.27 and $0.24; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.24, though the bulls had also staged the rally to the 24H high at $0.27. The price action on the asset's market during the period between September 6 and September 12 topped at $0.41, while the bottom of the price range was established at $0.24. Gelato bounced 38% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.15.

Over the period of the last 7 days, September 6 to September 12, Gelato saw its average trading volume fluctuate between $179 031 and $193 558. During the week before September 6, the trading volume of GEL flowed from $155 975 to $268 466. The asset demonstrated an 61% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 38%.

The total capitalization of Bitcoin at the start of the analyzed time period (September 6) amounted to $6 763 026; by the end of that period (September 12), the capitalization went to $4 607 754. The percentage change in the total market capitalization of GEL amounted to 32%. The price of the coin changed by 38% on the back of the 32% shift in its total market capitalization. A more precise analysis of the Gelato market also requires a comparison with the change in market capitalization from the week before, which amounted to 1% on the back of the move from $6 784 662 to $6 738 903.

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Article date: September 12 | September 6 - 12

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