ICON analysis November 7 - November 13 : bears in all-out attack as the price collapses by 34%.
The price of ICON was falling last from November 7 until November 13, giving enough reason to conclude that the market is bearish. The price swings of ICX pointed to the presence of high volatility. There has been a fall in the market capitalization of the asset during the period under review. The crypto coin's market experienced a falling trading volume during the observed time period, which fell in line with the price action.
The considerable chops and changes in the price of ICON resulted in average volatility of 24.43%. November 7 was the day when the asset was the most volatile, with the volatility going as high as 24.43%. The lowest volatility for the given period was spotted on November 13 and reached 0.73%. The increased volatility of 24.43% on the ICX market suggests large price swings in either direction, which is indicative of market instability.
On November 7, the first trading session of the reviewed time period, the market participants saw ICX moving down by 2%. November 8 saw the coin going another 13% since the open, supported by the corresponding trading volume. ICON posted the interim low at $0.15 on November 9 and then moved down by 19% and peaked at $0.19. The trading volume on November 10 rendered support to the 6% bullish move of ICX. November 11 kicked off with ICON trading opening at $0.17 and then closing the session at $0.16, establishing the 24H low at $0.16 and 24H high at $0.17 in the process. The crypto coin opened the trading session on November 12 at $0.16 and finalized it at $0.16; the highest point of price action was at $0.16, the lowest was detected at $0.16. Between the 24H high at $0.16 and the 24H low at $0.15, the coin was traded in the $0.16 - $0.15 price corridor. Over the course of all trading sessions, the asset established the weekly low at $0.15 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 34%, as the price moved in the $0.08 wide corridor.
As for the average trading volume in the time slot between November 7 and November 13, the ICON market registered the change from $7 520 592 to $4 571 116. In order to have a better grasp of the ICX market, it’s necessary to compare the stats from the analyzed period with those from the week before, when the trading volume had gone from $4 195 423 to $11 495 152. Percentage-wise, the trading volume of the asset changed by 50%, in comparison to the previous period, while its price experienced a 34% adjustment.
The change in the total market capitalization of ICON from November 7 to November 13 was as follows: on November 7, the capitalization was at $205 121 652, while on November 13, it reached the level of $140 145 420. ICX experienced a 32% change in total market capitalization throughout the past seven days. The said 32% percentage change in market capitalization of the coin was accompanied by the 34% fluctuation in the price of the underlying asset. During the week before the analyzed time frame, the market capitalization of ICON moved by 2% as it went from $209 241 239 to $213 945 193, and gave a better understanding of the general direction in which this market is flowing.