November 17 - November 23 market watch: Huobi Token goes up by 15% as buying pressure persists.
The upward movement of the Huobi Token price last week indicates the chosen market is. HT has been going through a period of medium volatility, which fell in line with the occurred price changes. The market capitalization of the asset has been increasing in concert with the price of the coin. The crypto coin's market experienced a growing trading volume during the observed time period, which fell in line with the price action.
While the volatility remains restrained, Huobi Token isn't making any explosive moves. The average volatility of 9% was the reason why the price of HT didn't put up any significant gains. The highest point of the coin's volatility reached 9.9% in the analyzed time frame. On November 21, the volatility of the asset was at its minimum at 0.41%. 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.
On November 17, the Huobi Token market opened at $4.7, preceded by a period of neutral action. On November 17, the first trading session of the reviewed time period, the market participants saw HT moving down by 1%. The coin market was down by 1% on November 18, the second day of the reviewed time period. During the next trading day, the rate of change in the price of Huobi Token stood at 2% having reached the low at $4.46 and the high at $4.63 as the advantage remained on the side of sellers. The next trading session was characterized by more price action (as HT made a 1% move) on the back of the consistent trading volume. The price oscillation of Huobi Token on November 21 was in the $4.5 - $4.83 range; at the same time, the price stretched out to reach the 24H low at $4.26 and the 24H high at $5.09. No changes were observed on the crypto coin's market on November 22. Most trading activity on November 23 occurred in the space between $4.85 and $5.33; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $4.85, though the bulls had also staged the rally to the 24H high at $5.39. The price action on the asset's market during the period between November 17 and November 23 topped at $5.39, while the bottom of the price range was established at $4.26. The difference between the lowest and the highest price points for the week was 15%, as the price moved in the $0.68 wide corridor.
Over the period of the last 7 days, November 17 to November 23, Huobi Token saw its average trading volume fluctuate between $9 403 554 and $14 317 330. Over the week that came before the analyzed time span, the average trading volume of HT ranged between $12 103 129 and $50 632 527. The average trading volume of the asset fluctuated by 64% by comparison with the previous period, whereas the price change of 15% took place over the same period of time.
Bitcoin began the observed period November 17 - November 23, with the market capitalization of $613 263 558 and finalized it at the market capitalization level of $643 459 340. Percentage-wise, the market capitalization of HT has shifted by 5% in the past week. The 5% change in the coin's market capitalization affected the price rate that saw a 15% shift in the same time period. 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 $767 107 591 on November 10 and $655 328 834 on November 16, which translates to a 15% change.