A 36% drop on the market last week (September 8 - September 14) signals that the sellers are gaining strength.

The price of was falling last from September 8 until September 14, giving enough reason to conclude that the market is. FOREX was caught in a period of medium volatility, which was reflected in its price action. The price action on the coin's market translated to the decline of market capitalization. The price action of the crypto coin last week took place on the back of decreased trading volume. has been moving reservedly on the backdrop of average volatility. We established that FOREX didn't showcase any significant price action due to the market's mild average volatility of 16%. The coin was the most volatile on September 8, when the range of its price fluctuations reached 16.61%. The asset's volatility was at its lowest on September 12 when it dropped to 0.1%. 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 gains of FOREX after the weekly open on September 8 amounted to 1%. On September 9 the coin market stayed neutral, with no changes in the price. The bears dominated the price action during the following trading period as the price drifted 4% to the downside, having established the low for the reviewed time frame at $0.05, while the high was recorded at $0.05. On September 11, the value of FOREX was in the range, with the market remaining flat. The price oscillation of on September 12 was in the $0.05 - $0.04 range; at the same time, the price stretched out to reach the 24H low at $0.041 and the 24H high at $0.047. While the 24H high and low on September 13 were at $0.04 and $0.03, respectively, the crypto coin had been traded in the area between the open at $0.04 and the close at $0.03. Most trading activity on September 14 occurred in the space between $0.03 and $0.03; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.031, though the bulls had also staged the rally to the 24H high at $0.034. Over the course of all trading sessions, the asset established the weekly low at $0.03 while buyers managed to push the price up to the weekly high at $0.05. The price action on the weekly time frame made within the 36% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.02.

In the period September 8 - September 14, the trading volume of went from $148 044 on the first day of the reviewed period to $91 577 on the closing day. A more comprehensive analysis of FOREX price action requires the comparison of the trading volume between September 8 and September 14 with that from the preceding week that demonstrated how the trading volume fluctuated between $22 253 and $270 191. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 39%, and the 36% price shift.

The change in the total market capitalization of from September 8 to September 14 was as follows: on September 8, the capitalization was at $4 399 635, while on September 14, it reached the level of $2 928 074. 33% was the calculated percentage change for the FOREX market over the past week. The said 33% percentage change in market capitalization of the coin was accompanied by the 36% fluctuation in the price of the underlying asset. A better understanding of the lay of the land on the market requires a comparison with the preceding week when the total market capitalization of changed by 115% as it went from $1 966 412 to $4 399 635.

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Article date: September 14 | September 8 - 14

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