Down by 2% : The ICON market saw some bearish action last week (October 29 - November 4).
The behavior of ICON last week was characterized by the occurrence of downswings. ICX was caught in a period of low volatility, which was reflected in its price action. The market capitalization of the asset has been decreasing in concert with the price of the coin. The price action of the crypto coin last week took place on the back of decreased trading volume.
The price action of ICON is in a stalemate due to low volatility during the observed period. The insignificant movement of the ICX market came as the result of low average volatility that amounted to 0.68%. The most significant price swings occurred on November 2, when the volatility of the coin was at its highest for the given period at 4.22%. The weakest volatility level of 0.68% on the asset's market was registered on November 3. The unimpressive volatility of 0.68% showcases the overall weakness of the crypto coin.
While the overall situation on the ICON market was neutral, the trading session on October 29 kicked off at the $0.23 price level. ICX made a 3% step in an upward direction during the first daily trading session that took place on October 29. The coin market was down by 1% on October 30, the second day of the reviewed time period. During the next trading day, the rate of change in the price of ICON stood at 2% having reached the low at $0.23 and the high at $0.24 as the advantage remained on the side of sellers. On November 1, the value of ICX was in the range, with the market remaining flat. The price oscillation of ICON on November 2 was in the $0.23 - $0.22 range; at the same time, the price stretched out to reach the 24H low at $0.22 and the 24H high at $0.229. The activity on the crypto coin's market on November 3 resulted in the asset being traded between $0.22, the open of the day, and $0.22, the close of the day; at some point, the price spiked to the daily high at $0.23 and briefly dropped to the daily low at $0.22. Most trading activity on November 4 occurred in the space between $0.22 and $0.23; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.22, though the bulls had also staged the rally to the 24H high at $0.24. Over the course of all trading sessions, the asset established the weekly low at $0.22 while buyers managed to push the price up to the weekly high at $0.24. The difference between the lowest and the highest price points for the week was 2%, as the price moved in the $0.004 wide corridor.
As for the average trading volume in the time slot between October 29 and November 4, the ICON market registered the change from $8 770 776 to $7 054 839. During the week before October 29, the trading volume of ICX flowed from $2 645 484 to $7 163 090. Percentage-wise, the trading volume of the asset changed by 55%, in comparison to the previous period, while its price experienced a 2% adjustment.
The total market capitalization of ICON during the past 7-day oscillated between $205 443 729, the starting point that was established on October 29, and $199 028 989 on November 4, the end date of the reviewed period. 3% was the calculated percentage change for the ICX market over the past week. While the market capitalization of the coin was altered by 3%, its price has made a 2% change. 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 $191 083 448 on October 22 and $201 526 737 on October 28, which translates to a 5% change.