Market review from October 21 to October 27 : ICON gets a 8% price appreciation.
The analysis of last week’s price action shows that the ICON market is in the phase since the price has been moving upward. The situation on the ICX market shows that the underlying asset is currently experiencing a period of low volatility. The price action of the coin has been accompanied by the increased market capitalization of the said digital asset. The trading volume on the crypto coin's market has been increasing throughout the reviewed period along with its price.
According to our market analysis, the weak price movement of ICON was dictated by low volatility. The average volatility of ICX was capped at 0%, leading to weak fluctuations in the price of ICON. The peak of the coin's volatility for the given time period was reached on October 25 when this parameter went as low as 4.93%. The weakest volatility level of 0% on the asset's market was registered on October 26. The volatility of 0% is too low for the crypto coin to engage in any attention-worthy price action.
The trading session on October 21 started with ICON opening at $0.22 on the backdrop of neutral sentiment throughout the market. On October 21, the first trading session of the reviewed time period, the market participants saw ICX moving down by 1%. On October 22 the coin market stayed neutral, with no changes in the price. The price range of ICON formed between $0.213 and $0.217 on October 23 as the price traveled 2% up. Over the next trading period (on October 24), ICX was moving down by 1% on the back of a congruous trading volume. October 25 kicked off with ICON trading opening at $0.22 and then closing the session at $0.23, establishing the 24H low at $0.22 and 24H high at $0.23 in the process. The crypto coin opened the trading session on October 26 at $0.23 and finalized it at $0.23; the highest point of price action was at $0.23, the lowest was detected at $0.22. The coin's market saw no changes on October 27, as the market flatlined. Over the course of all trading sessions, the asset established the weekly low at $0.21 while buyers managed to push the price up to the weekly high at $0.23. ICON shaped the $0.02 price range over the week of price action, which constituted the 8% gap between the weekly low and the weekly high.
As for the average trading volume in the time slot between October 21 and October 27, the ICON market registered the change from $8 273 171 to $6 509 928. Over the week that came before the analyzed time span, the average trading volume of ICX ranged between $1 683 565 and $63 010 331. The 57% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 8%.
Bitcoin began the observed period October 21 - October 27, with the market capitalization of $191 389 020 and finalized it at the market capitalization level of $205 446 873. When translated to percentage rate, the market capitalization of ICX over the past week adjusted by 7%. The price of the coin changed by 8% on the back of the 7% shift in its total market capitalization. A better understanding of the lay of the land on the ICON market requires a comparison with the preceding week when the total market capitalization of ICON changed by 0% as it went from $194 488 808 to $191 389 020.