Coins
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Golem
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2022-10-27

Restrained price action on October 21 to October 27 as Golem moves up by only 5%.

The bullish behavior of Golem last week was characterized by the occurrence of upswings. GLM has been going through a period of low volatility, which fell in line with the occurred price changes. The price action of the coin has been accompanied by the increased market capitalization of the said digital asset. The crypto coin's market experienced a growing trading volume during the observed time period, which fell in line with the price action.

The price action of Golem is in a stalemate due to low volatility during the observed period. With the average volatility being as low as 0%, GLM was incapable of making any sizable price swings. Despite the overall weak performance, the volatility of the coin had its highest point at 2.85%. The quietest period on the asset's market was recorded on October 25, when the volatility dropped to the minimum at 0%. Since the current volatility of the crypto coin is low, we expect the price fluctuations of the digital asset at hand to be insignificant.

There were no gains or losses to the GLM market on October 21, it remained flat. On October 22 the coin market stayed neutral, with no changes in the price. The cautious traders dominated the price action on October 23, with the Golem market remaining flat. On October 24, the value of GLM was in the range, with the market remaining flat. After the open at $0.26, Golem moved during October 25 in the range between the said open and the close at $0.26, having posted the 24H low at $0.26 and the 24H high at $0.26. The trading period on October 26 saw the crypto coin forming the price amplitude between the open at $0.26 and the close at $0.27, also interacting with $0.26 (24H low) and $0.26 (24H high). On the last day of the reviewed period, the coin was locked between $0.27 and $0.27, though the price managed to puncture these levels to reach the 24H high at $0.27 and the 24H low at $0.27. During the reviewed time period, the asset was able to achieve the weekly high at $0.27, though at a certain point, the bear pressurized the price down to the weekly low at $0.25. The difference between the lowest and the highest price points for the week was 5%, as the price moved in the $0.01 wide corridor.

Over the period of the last 7 days, October 21 to October 27, Golem saw its average trading volume fluctuate between $6 881 141 and $20 554 894. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the GLM market had its volume ranging between $2 259 599 and $65 931 496. The 61% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 5%.

The total capitalization of Bitcoin at the start of the analyzed time period (October 21) amounted to $256 927 747; by the end of that period (October 27), the capitalization went to $272 584 652. The rate of percentage change for the last week for GLM was 6%. The 6% change in the coin's market capitalization affected the price rate that saw a 5% shift in the same time period. A better understanding of the lay of the land on the Golem market requires a comparison with the preceding week when the total market capitalization of Golem changed by 5% as it went from $250 785 478 to $256 927 747.

Price
Volatility
Capitalization
Volume
Fri 21Oct 23Tue 25Thu 27Fri 21Oct 23Tue 25Thu 270.2550.2600.2650.2700.2550.2600.2650.270
Article date: October 27 | October 21 - 27

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