Last week’s (October 22 - October 28) irresolute Golem : the price moved up no more than 5%.

The price of Golem was rising last from October 22 until October 28, giving enough reason to conclude that the market is bullish. GLM was caught in a period of low volatility, which was reflected in its price action. Last week’s market conditions reflected on the market capitalization of the asset, which was rising. There has been a growth in trading volume on the crypto coin's market in conjunction with the price movement.

The current state of affairs on the cryptocurrency market allows us to draw the conclusion that Golem is now going through the cycle of low volatility. The data derived from our credible sources shows that the average volatility of GLM didn't exceed 0.11%, which is indicative of weak price action. In the period between October 22 and October 28, the volatility of the coin peaked at 0.11%. The quietest period on the asset's market was recorded on October 26, when the volatility dropped to the minimum at 0.11%. The volatility of 0.11% is too low for the crypto coin to engage in any attention-worthy price action.

While the overall situation on the Golem market was bullish, the trading session on October 22 kicked off at the $0.26 price level. There were no gains or losses to the GLM market on October 22, it remained flat. On October 23 the coin market stayed neutral, with no changes in the price. The cautious traders dominated the price action on October 24, with the Golem market remaining flat. The trading volume on October 25 rendered support to the 3% bullish move of GLM. Golem finalized the trading day of October 26 at $0.27 after opening it at $0.26, though the price broke through that corridor to hit the 24H high at $0.27 and the 24H low at $0.26. The activity on the crypto coin's market on October 27 resulted in the asset being traded between $0.27, the open of the day, and $0.27, the close of the day; at some point, the price spiked to the daily high at $0.27 and briefly dropped to the daily low at $0.27. Between the 24H high at $0.27 and the 24H low at $0.262, the coin was traded in the $0.27 - $0.27 price corridor. 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. Golem bounced 5% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.01.

As for the average trading volume in the time slot between October 22 and October 28, the Golem market registered the change from $7 415 062 to $5 615 033. Over the week that came before the analyzed time span, the average trading volume of GLM ranged between $2 259 599 and $65 931 496. Percentage-wise, the trading volume of the asset changed by 62%, in comparison to the previous period, while its price experienced a 5% adjustment.

Bitcoin began the observed period October 22 - October 28, with the market capitalization of $257 086 397 and finalized it at the market capitalization level of $267 605 268. The percentage change in the total market capitalization of GLM amounted to 4%. The price of the coin changed by 5% on the back of the 4% shift in its total market capitalization. In the preceding week, October 15 - October 21, the market capitalization of Golem got a 0% adjustment ($257 120 170 to $256 927 747) in comparison to a 4% change last week; this allows getting a deeper insight into the market structure.

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Article date: October 28 | October 22 - 28

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