April 23 - April 29 market wrap: Huobi Token had a slight 2% drop.
Between April 23 - April 29, Huobi Token has been mostly bearish as its price has been in the falling mode. The situation on the HT market shows that the underlying asset is currently experiencing a period of low volatility. Last week’s market conditions reflected on the market capitalization of the asset, which was falling. The past week’s price movement of the crypto coin was accompanied by the falling trading volume on the corresponding market.
The analysis of events on the Huobi Token market shows that the cryptocurrency under review is experiencing a period of low volatility. The data derived from our credible sources shows that the average volatility of HT didn't exceed 0%, which is indicative of weak price action. Despite the overall weak performance, the volatility of the coin had its highest point at 3.54%. The asset experienced the period of lowest volatility on April 28 when it fell to 0%. Since the crypto coin is displaying low levels of volatility, the price action is likely to remain feeble.
While the overall situation on the Huobi Token market was bearish, the trading session on April 23 kicked off at the $3.62 price level. There were no gains or losses to the HT market on April 23, it remained flat. April 24 saw the coin going another 1% since the open, supported by the corresponding trading volume. The cautious traders dominated the price action on April 25, with the Huobi Token market remaining flat. On April 27, HT market moved by 3% in the bullish direction in concert with the trading volume. April 27 kicked off with Huobi Token trading opening at $3.56 and then closing the session at $3.54, establishing the 24H low at $3.48 and 24H high at $3.6 in the process. No changes were observed on the crypto coin's market on April 28. The coin's market saw no changes on April 29, as the market flatlined. Over the course of all trading sessions, the asset established the weekly low at $3.48 while buyers managed to push the price up to the weekly high at $3.7. Huobi Token bounced 2% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.09.
The past 7 days were marked by a change in average daily trading volume from $6 479 559 on April 23 to $6 140 499 on April 29. Over the week that came before the analyzed time span, the average trading volume of HT ranged between $6 471 962 and $9 755 292. The 9% trading volume fluctuation between April 23 and April 29, as compared with the previous period, served as a basis for a 2% price move.
The total market capitalization of Huobi Token during the past 7-day oscillated between $585 054 751, the starting point that was established on April 23, and $573 649 134 on April 29, the end date of the reviewed period. Percentage-wise, the market capitalization of HT has shifted by 2% in the past week. The said 2% percentage change in market capitalization of the coin was accompanied by the 2% fluctuation in the price of the underlying asset. In the preceding week, April 16 - April 22, the market capitalization of Huobi Token got a 9% adjustment ($639 445 240 to $583 662 762) in comparison to a 2% change last week; this allows getting a deeper insight into the market structure.