Red clouds gathered above the Hempcoin market last week (February 20 - February 26) as the price went down by 7%.

The price of Hempcoin was falling last from February 20 until February 26, giving enough reason to conclude that the market is bearish. THC was caught in a period of medium volatility, which was reflected in its price action. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.

While the volatility remains restrained, Hempcoin isn't making any explosive moves. The average volatility of 16% was the reason why the price of THC didn't put up any significant gains. The volatility of the coin reached its highest point at 17.41% during the observed period. The asset's volatility was at its lowest on February 24 when it dropped to 1.7%. The crypto coin's market didn't put up any surprises due to mild average volatility of 16%.

On February 20, the first trading session of the reviewed time period, the market participants saw THC moving up by 2%. February 21 saw the coin going another 5% since the open, supported by the corresponding trading volume. On February 22, the market was moving to the downside as Hempcoin went 2% down from the low at $0.0028 to the high at $0.0028. On February 24, THC market moved by 10% in the bearish direction in concert with the trading volume. Hempcoin finalized the trading day of February 24 at $0.003 after opening it at $0.003, though the price broke through that corridor to hit the 24H high at $0.0027 and the 24H low at $0.0026. The crypto coin opened the trading session on February 25 at $0.003 and finalized it at $0.002; the highest point of price action was at $0.0029, the lowest was detected at $0.0023. As for the occurrences on February 26, the price of the coin bottomed at $0.0021 and peaked at $0.0026, while its daily range formed between $0.002 and $0.003. Over the course of all trading sessions, the asset established the weekly low at $0.002 while buyers managed to push the price up to the weekly high at $0.003. The price action on the weekly time frame made Hempcoin within the 7% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.0002.

The trading activity on the Hempcoin market over the past week - February 20 to February 26 - generated the average trading volume that went from $134 to $277. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the THC market had its volume ranging between $0.02 and $623. The asset demonstrated an 62% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 7%.

The change in the total market capitalization of Hempcoin from February 20 to February 26 was as follows: on February 20, the capitalization was at $718 301, while on February 26, it reached the level of $620 705. 14% was the calculated percentage change for the THC market over the past week. The price of the coin changed by 7% on the back of the 14% shift in its total market capitalization. In order to get a better grasp of the current state of affairs on the market, it’s important to draw the comparison between the reviewed period and the preceding seven days when the market capitalization ranged between $758 181 on February 13 and $889 544 on February 19, which translates to a 17% change.

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Article date: February 26 | February 20 - 26

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