Coins
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ICON
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2022-11-21

The bullish pressure subsides between November 15 and November 21 as ICON gains only 2%.

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 volatility associated with the ICX market was medium, as were its price fluctuations. Last week’s market conditions reflected on the market capitalization of the asset, which was rising. The trading volume on the crypto coin's market has been increasing throughout the reviewed period along with its price.

The situation on the ICON market allows us to characterise its volatility as mild. We established that ICX didn't showcase any significant price action due to the market's mild average volatility of 5%. The volatility of the coin reached its highest point at 4.71% during the observed period. The price of the asset had fluctuated the least on November 19, when the volatility plummeted to 0.24%. 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.

The gains of ICX after the weekly open on November 15 amounted to 6%. The coin market was down by 2% on November 16, the second day of the reviewed time period. The cautious traders dominated the price action on November 17, with the ICON market remaining flat. On November 18, the value of ICX was in the range, with the market remaining flat. ICON finalized the trading day of November 19 at $0.16 after opening it at $0.15, though the price broke through that corridor to hit the 24H high at $0.16 and the 24H low at $0.15. While the 24H high and low on November 20 were at $0.166 and $0.161, respectively, the crypto coin had been traded in the area between the open at $0.16 and the close at $0.16. The coin found the deepest trough (24H low) at $0.15 on November 21 and then exploded to the ceiling (24H high) at $0.16; the price range for that day was between $0.16 and $0.16. The price action on the asset's market during the period between November 15 and November 21 topped at $0.17, while the bottom of the price range was established at $0.15. Traders saw ICON covering the $0.003 distance between the weekly low and the weekly high, which constituted for a 2% move.

ICON ’s average trading volume on the opening day of the observed time period, November 15, stood at $7 872 224, while on the closing day of the same period, it moved to $12 869 523. We can draw the comparison with the period of 7 days that preceded the reviewed one when ICX ’s trading volume varied from $4 571 116 to $23 554 720. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 42%, and the 2% price shift.

Bitcoin began the observed period November 15 - November 21, with the market capitalization of $135 425 077 and finalized it at the market capitalization level of $141 369 621. The rate of percentage change for the last week for ICX was 4%. The price of the coin changed by 2% on the back of the 4% shift in its total market capitalization. A more precise analysis of the ICON market also requires a comparison with the change in market capitalization from the week before, which amounted to 33% on the back of the move from $205 834 901 to $137 135 197.

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Article date: November 21 | November 15 - 21

Market reviews for similar coins for November 15 - 21