The bears had a field day between November 16 and November 22 as Global Coin Research got knocked down by 24%.
The bearish behavior of Global Coin Research last week was characterized by the occurrence of downswings. The price swings of GCR 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 from last week stemmed from the decreasing trading volume.
The volatility has been suppressed, as the Global Coin Research price action suggests. During the reviewed period, the volatility of GCR was in the middle register, averaging at 12%. The volatility of the coin reached its highest point at 14.39% during the observed period. 0.75% was the rock bottom for the asset's volatility that was reached on November 20. 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 November 16 started with Global Coin Research opening at $1.34 on the backdrop of bearish sentiment throughout the market. On November 16, the first trading session of the reviewed time period, the market participants saw GCR moving down by 1%. The coin market was down by 1% on November 17, the second day of the reviewed time period. The price range of Global Coin Research formed between $1.13 and $1.33 on November 18 as the price traveled 14% down. GCR ’s performance during November 19 was the following: the price declined by 7% in conjunction with the acceptable trading volume. November 20 kicked off with Global Coin Research trading opening at $1.05 and then closing the session at $1.06, establishing the 24H low at $1.05 and 24H high at $1.11 in the process. The crypto coin opened the trading session on November 21 at $1.06 and finalized it at $1.03; the highest point of price action was at $1.07, the lowest was detected at $1.03. On the last day of the reviewed period, the coin was locked between $1.03 and $1.01, though the price managed to puncture these levels to reach the 24H high at $1.03 and the 24H low at $1.01. Over the course of all trading sessions, the asset established the weekly low at $1.01 while buyers managed to push the price up to the weekly high at $1.34. The difference between the lowest and the highest price points for the week was 24%, as the price moved in the $0.32 wide corridor.
In the period November 16 - November 22, the trading volume of Global Coin Research went from $2 763 on the first day of the reviewed period to $164 on the closing day. A more comprehensive analysis of GCR price action requires the comparison of the trading volume between November 16 and November 22 with that from the preceding week that demonstrated how the trading volume fluctuated between $2 263 and $67 104. The 69% trading volume fluctuation between November 16 and November 22, as compared with the previous period, served as a basis for a 24% price move.
The past week saw the market capitalization of Global Coin Research making a shift from $13 424 038 on November 16 to $10 215 320 on November 22, the peak for the analyzed period. GCR experienced a 24% change in total market capitalization throughout the past seven days. The 24% change in the coin's market capitalization affected the price rate that saw a 24% shift in the same time period. During the week before the analyzed time frame, the market capitalization of Global Coin Research moved by 29% as it went from $19 365 523 to $13 757 674, and gave a better understanding of the general direction in which this market is flowing.