Market review from July 28 to August 3 : IoTeX gets a 8% price appreciation.
Between July 28 - August 3, IoTeX has been mostly bullish as its price has been in the rising mode. The price swings of IOTX pointed to the presence of medium volatility. There has been a rise in the market capitalization of the asset during the period under review. The trading volume on the crypto coin's market has been increasing throughout the reviewed period along with its price.
While the volatility remains restrained, IoTeX isn't making any explosive moves. The average volatility of 9% was the reason why the price of IOTX didn't put up any significant gains. The coin was the most volatile on July 28, when the range of its price fluctuations reached 10.09%. The price of the asset had fluctuated the least on August 1, when the volatility plummeted to 0.69%. 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.
On July 28, the first trading session of the reviewed time period, the market participants saw IOTX moving up by 8%. On July 29, the price of the coin has shifted by 1% from the daily open on the back of a good trading volume. During the following trading period on July 30, the price of IoTeX oscillated between the low at $0.033 and the high at $0.036, while the price moved up by 6%. The next trading session was characterized by more bullish price action (as IOTX made a 1% move) on the back of the consistent trading volume. IoTeX finalized the trading day of August 1 at $0.03 after opening it at $0.03, though the price broke through that corridor to hit the 24H high at $0.034 and the 24H low at $0.033. On August 2, the crypto coin showcased the following price fluctuations: the trading session began at $0.03 and then traveled from the low of the day at $0.032 to the high of the day at $0.033, closing at $0.03. The coin found the deepest trough (24H low) at $0.032 on August 3 and then exploded to the ceiling (24H high) at $0.035; the price range for that day was between $0.03 and $0.04. The asset posted the weekly low at $0.03, while the top of the weekly trading session was registered at $0.036. Traders saw IoTeX covering the $0.003 distance between the weekly low and the weekly high, which constituted for a 8% move.
IoTeX ’s average trading volume on the opening day of the observed time period, July 28, stood at $24 436 874, while on the closing day of the same period, it moved to $41 989 525. A more comprehensive analysis of IOTX price action requires the comparison of the trading volume between July 28 and August 3 with that from the preceding week that demonstrated how the trading volume fluctuated between $20 778 672 and $58 125 895. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 10%, and the 8% price shift.
The past week saw the market capitalization of IoTeX making a shift from $289 060 060 on July 28 to $305 554 961 on August 3, the peak for the analyzed period. The rate of percentage change for the last week for IOTX was 6%. The 6% change in the coin's market capitalization affected the price rate that saw a 8% shift in the same time period. A more precise analysis of the IoTeX market also requires a comparison with the change in market capitalization from the week before, which amounted to 16% on the back of the move from $321 213 899 to $269 117 213.