Coins
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Golem
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2022-11-07

Buyers weakened their grip on the Golem market (November 1 - November 7) as the price rose only by 2%.

The upward movement of the Golem price last week indicates the chosen market is bullish. The situation on the GLM market shows that the underlying asset is currently experiencing a period of low volatility. There has been a rise in the market capitalization of the asset during the period under review. The past week’s price movement of the crypto coin was accompanied by the growing trading volume on the corresponding market.

The analysis of events on the Golem market shows that the cryptocurrency under review is experiencing a period of low volatility. With the average volatility being as low as 0.41%, GLM was incapable of making any sizable price swings. In the period between November 1 and November 7, the volatility of the coin peaked at 0.41%. The price action on the asset's market was the weakest on November 6 when the volatility was at 0.41%, the minimum for the given period of time. Since the current volatility of the crypto coin is low, we expect the price fluctuations of the digital asset at hand to be insignificant.

While the overall situation on the Golem market was bullish, the trading session on November 1 kicked off at the $0.27 price level. The gains of GLM after the weekly open on November 1 amounted to 1%. The 1% move in the downward direction took place on the second day after the weekly open. On November 3, the market was moving to the upside as Golem went 3% up from the low at $0.26 to the high at $0.28. On November 5, GLM market moved by 3% in the bullish direction in concert with the trading volume. The price range of Golem on November 5 formed between $0.28 and $0.29, whereas the daily price extremities were $0.282 and $0.288. While the 24H high and low on November 6 were at $0.285 and $0.28, respectively, the crypto coin had been traded in the area between the open at $0.28 and the close at $0.28. The coin found the deepest trough (24H low) at $0.27 on November 7 and then exploded to the ceiling (24H high) at $0.28; the price range for that day was between $0.28 and $0.28. The asset posted the weekly low at $0.26, while the top of the weekly trading session was registered at $0.29. As a result of price action within the designated time period, the price movement range on the Golem market was established at $0.006 or 2% between the weekly low and the weekly high.

In the period November 1 - November 7, the trading volume of Golem went from $12 700 367 on the first day of the reviewed period to $3 477 004 on the closing day. In order to have a better grasp of the GLM 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 $3 673 648 to $20 554 894. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 64%, and the 2% price shift.

The past week saw the market capitalization of Golem making a shift from $272 620 032 on November 1 to $275 862 140 on November 7, the peak for the analyzed period. Percentage-wise, the market capitalization of GLM has shifted by 1% in the past week. While the market capitalization of the coin was altered by 1%, its price has made a 2% change. During the week before the analyzed time frame, the market capitalization of Golem moved by 4% as it went from $259 189 995 to $269 614 464, and gave a better understanding of the general direction in which this market is flowing.

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Article date: November 7 | November 1 - 7

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