The bears stepped up a gear on August 26 - September 1, dropping the price of IoTeX by 8%.

The analysis of last week’s price action shows that the IoTeX market is in the bearish phase since the price has been moving downward. The price swings of IOTX pointed to the presence of medium volatility. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. The price action of the crypto coin last week took place on the back of decreased trading volume.

The unfolding situation in the IoTeX market suggests that the reviewed digital asset is in the stage of mild volatility. The market analysis reveals that the mild average volatility of 5% restrained IOTX 's price swings. The coin has hit the highest point of volatility on August 26. The asset's volatility was at its lowest on August 30 when it dropped to 0.96%. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.

During the opening day on August 26, IOTX has had a 4% move to the downside. On August 27, the price of the coin has shifted by 3% from the daily open on the back of a good trading volume. During the following trading period on August 28, the price of IoTeX oscillated between the low at $0.032 and the high at $0.034, while the price moved up by 4%. On August 29, the value of IOTX was in the range, with the market remaining flat. The price oscillation of IoTeX on August 30 was in the $0.03 - $0.03 range; at the same time, the price stretched out to reach the 24H low at $0.031 and the 24H high at $0.034. The activity on the crypto coin's market on August 31 resulted in the asset being traded between $0.03, the open of the day, and $0.03, the close of the day; at some point, the price spiked to the daily high at $0.035 and briefly dropped to the daily low at $0.031. On the last day of the reviewed period, the coin was locked between $0.03 and $0.03, though the price managed to puncture these levels to reach the 24H high at $0.03 and the 24H low at $0.03. The highest point of the price action over the week was at $0.03 - the weekly low during the same period was established at $0.03. IoTeX shaped the $0.002 price range over the week of price action, which constituted the 8% gap between the weekly low and the weekly high.

The trading activity on the IoTeX market over the past week - August 26 to September 1 - generated the average trading volume that went from $21 018 566 to $12 035 288. During the week before August 26, the trading volume of IOTX flowed from $10 850 547 to $22 612 572. The 4% 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%.

The total market capitalization of IoTeX during the past 7-day oscillated between $316 864 662, the starting point that was established on August 26, and $285 486 884 on September 1, the end date of the reviewed period. IOTX experienced a 10% change in total market capitalization throughout the past seven days. The price of the coin changed by 8% on the back of the 10% shift in its total market capitalization. A better understanding of the lay of the land on the IoTeX market requires a comparison with the preceding week when the total market capitalization of IoTeX changed by 7% as it went from $319 193 697 to $316 864 662.

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Article date: September 1 | August 26 - September 1

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