A 25% drop on the Global Coin Research market last week (November 9 - November 15) signals that the sellers are gaining strength.

The analysis of last week’s price action shows that the Global Coin Research market is in the bearish phase since the price has been moving downward. The volatility of GCR has been medium throughout the reviewed period in correspondence with the price action. The market capitalization of the asset has been decreasing in concert with the price of the coin. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.

The price action of Global Coin Research has been contained due to modest volatility. During the reviewed period, the volatility of GCR was in the middle register, averaging at 15%. The volatility of the coin reached its highest point at 17.42% during the observed period. 1.36% was the rock bottom for the asset's volatility that was reached on November 13. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.

While the overall situation on the Global Coin Research market was bearish, the trading session on November 9 kicked off at the $1.93 price level. The first day of price action was marked by the 8% move to the downside from the point where the trading session opened. The price action of the coin remained bearish on November 10 as the bears pushed the price down by 15%. The price range of Global Coin Research formed between $1.45 and $1.49 on November 11 as the price traveled 1% up. The next trading session was characterized by more price action (as GCR made a 1% move) on the back of the consistent trading volume. The price range of Global Coin Research on November 13 formed between $1.52 and $1.47, whereas the daily price extremities were $1.47 and $1.55. The trading period on November 14 saw the crypto coin forming the price amplitude between the open at $1.47 and the close at $1.38, also interacting with $1.38 (24H low) and $1.38 (24H high). Most trading activity on November 15 occurred in the space between $1.39 and $1.34; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $1.34, though the bulls had also staged the rally to the 24H high at $1.39. The price action on the asset's market during the period between November 9 and November 15 topped at $2.01, while the bottom of the price range was established at $1.34. Global Coin Research shaped the $0.44 price range over the week of price action, which constituted the 25% gap between the weekly low and the weekly high.

The trading activity on the Global Coin Research market over the past week - November 9 to November 15 - generated the average trading volume that went from $67 104 to $5 492. In order to have a better grasp of the GCR 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 $259 to $67 096. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 30%, and the 25% price shift.

The change in the total market capitalization of Global Coin Research from November 9 to November 15 was as follows: on November 9, the capitalization was at $19 365 523, while on November 15, it reached the level of $13 757 674. Percentage-wise, the market capitalization of GCR has shifted by 29% in the past week. The price of the coin changed by 25% on the back of the 29% shift in its total market capitalization. In order to get a better grasp of the current state of affairs on the market, it’s important to draw the comparison between the reviewed period and the preceding seven days when the market capitalization ranged between $20 054 153 on November 2 and $20 399 109 on November 8, which translates to a 2% change.

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Article date: November 15 | November 9 - 15

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