The bears had a field day between November 6 and November 12 as Global Coin Research got knocked down by 25%.
The bearish behavior of Global Coin Research last week was characterized by the occurrence of downswings. GCR has been going through a period of medium volatility, which fell in line with the occurred price changes. Last week’s market conditions reflected on the market capitalization of the asset, which was falling. The past week’s price movement of the crypto coin was accompanied by the falling trading volume on the corresponding market.
The unfolding situation in the Global Coin Research market suggests that the reviewed digital asset is in the stage of mild volatility. Given that the average volatility on the GCR market didn't exceed 17%, the price action remained limited. The coin was the most volatile on November 6, when the range of its price fluctuations reached 17.42%. The asset's volatility was at its lowest on November 10 when it dropped to 0%. 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 price of GCR took a 1% down downswing at the open of the weekly trading period. On November 7 the coin market stayed neutral, with no changes in the price. The cautious traders dominated the price action on November 8, with the Global Coin Research market remaining flat. The next trading session was characterized by more price action (as GCR made a 8% move) on the back of the consistent trading volume. The price oscillation of Global Coin Research on November 10 was in the $1.72 - $1.47 range; at the same time, the price stretched out to reach the 24H low at $1.47 and the 24H high at $1.74. While the 24H high and low on November 11 were at $1.49 and $1.45, respectively, the crypto coin had been traded in the area between the open at $1.47 and the close at $1.49. Most trading activity on November 12 occurred in the space between $1.5 and $1.52; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $1.49, though the bulls had also staged the rally to the 24H high at $1.52. The price action on the asset's market during the period between November 6 and November 12 topped at $2.06, while the bottom of the price range was established at $1.45. Global Coin Research shaped the $0.51 price range over the week of price action, which constituted the 25% gap between the weekly low and the weekly high.
As for the average trading volume in the time slot between November 6 and November 12, the Global Coin Research market registered the change from $27 101 to $3 362. During the week before November 6, the trading volume of GCR flowed from $259 to $35 997. Percentage-wise, the trading volume of the asset changed by 171%, in comparison to the previous period, while its price experienced a 25% adjustment.
Bitcoin began the observed period November 6 - November 12, with the market capitalization of $20 526 305 and finalized it at the market capitalization level of $14 926 118. The rate of percentage change for the last week for GCR was 27%. The price of the coin changed by 25% on the back of the 27% shift in its total market capitalization. A better understanding of the lay of the land on the Global Coin Research market requires a comparison with the preceding week when the total market capitalization of Global Coin Research changed by 1% as it went from $20 220 757 to $20 526 305.