The market crumbled last week (September 13 - September 19) as Gelato lost 18%.

The downward movement of the Gelato price last week indicates the chosen market is bearish. GEL has been going through a period of medium volatility, which fell in line with the occurred price changes. The asset saw its market capitalization falling over the reviewed period together with its price. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.

The price action of Gelato has been contained due to modest volatility. The market analysis reveals that the mild average volatility of 17% restrained GEL 's price swings. The highest point of the coin's volatility reached 18.57% in the analyzed time frame. The asset's volatility was at its lowest on September 17 when it dropped to 0.64%. The mild volatility registered on the crypto coin's market over the said period allows us to expect moderate price movements in both directions without significant breakouts.

The trading session on September 13 started with Gelato opening at $0.24 on the backdrop of bearish sentiment throughout the market. On September 13, the first trading session of the reviewed time period, the market participants saw GEL moving down by 17%. On September 14 the coin market stayed neutral, with no changes in the price. Gelato posted the interim low at $0.19 on September 15 and then moved down by 3% and peaked at $0.21. GEL ’s performance during September 16 was the following: the price declined by 2% in conjunction with the acceptable trading volume. The price range of Gelato on September 17 formed between $0.19 and $0.19, whereas the daily price extremities were $0.183 and $0.189. The activity on the crypto coin's market on September 18 resulted in the asset being traded between $0.18, the open of the day, and $0.18, the close of the day; at some point, the price spiked to the daily high at $0.187 and briefly dropped to the daily low at $0.18. As for the occurrences on September 19, the price of the coin bottomed at $0.16 and peaked at $0.18, while its daily range formed between $0.18 and $0.16. During the reviewed time period, the asset was able to achieve the weekly high at $0.25, though at a certain point, the bear pressurized the price down to the weekly low at $0.16. Traders saw Gelato covering the $0.03 distance between the weekly low and the weekly high, which constituted for a 18% move.

Gelato ’s average trading volume on the opening day of the observed time period, September 13, stood at $167 844, while on the closing day of the same period, it moved to $197 318. In order to have a better grasp of the GEL market, it’s necessary to compare the stats from the analyzed period with those from the week before, when the trading volume had gone from $179 031 to $884 302. The 29% trading volume fluctuation between September 13 and September 19, as compared with the previous period, served as a basis for a 18% price move.

The past week saw the market capitalization of Gelato making a shift from $4 165 566 on September 13 to $3 081 804 on September 19, the peak for the analyzed period. The percentage change in the total market capitalization of GEL amounted to 26%. When compared to the price fluctuations during the observed period of time, the 26% market capitalization movement was accompanied by a 18% change in the price of the coin. The comparison with the Gelato market capitalization seen during the time period September 6 - September 12 that occurred before the observed one, which changed by 32%, from $6 763 026 to $4 607 754, allows us to get a clearer understanding of current market conditions.

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Article date: September 19 | September 13 - 19

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