The bullish pressure subsides between September 3 and September 9 as IoTeX gains only 5%.
Between September 3 - September 9, IoTeX has been mostly as its price has been in the rising mode. The volatility associated with the IOTX market was medium, as were its price fluctuations. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. The past week’s price movement of the crypto coin was accompanied by the falling trading volume on the corresponding market.
IoTeX has been moving reservedly on the backdrop of average volatility. Our comprehensive data indicates that the price change of IOTX has been moderate on the back of the average volatility of 11% for the given time period. The largest volatility for the given period occurred on September 3 and amounted to 12.37%. The asset has been the least volatile on September 7; at this time, the volatility stood at 0.23%. 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 September 3, the IoTeX market opened at $0.03, preceded by a period of neutral action. The first day of price action was marked by the 4% move to the upside from the point where the trading session opened. The 1% move in the upward direction took place on the second day after the weekly open. On September 5, the market was moving to the downside as IoTeX went 2% down from the low at $0.03 to the high at $0.03. The next trading session was characterized by more price action (as IOTX made a 7% move) on the back of the consistent trading volume. After the open at $0.03, IoTeX moved during September 7 in the range between the said open and the close at $0.03, having posted the 24H low at $0.027 and the 24H high at $0.028. No changes were observed on the crypto coin's market on September 8. The coin found the deepest trough (24H low) at $0.03 on September 9 and then exploded to the ceiling (24H high) at $0.03; the price range for that day was between $0.03 and $0.03. The asset posted the weekly low at $0.03, while the top of the weekly trading session was registered at $0.03. The difference between the lowest and the highest price points for the week was 5%, as the price moved in the $0.001 wide corridor.
Over the period of the last 7 days, September 3 to September 9, IoTeX saw its average trading volume fluctuate between $8 495 771 and $11 356 764. A more comprehensive analysis of IOTX price action requires the comparison of the trading volume between September 3 and September 9 with that from the preceding week that demonstrated how the trading volume fluctuated between $10 139 111 and $23 266 779. The average trading volume of the asset fluctuated by 42% by comparison with the previous period, whereas the price change of 5% took place over the same period of time.
The past week saw the market capitalization of IoTeX making a shift from $278 093 317 on September 3 to $265 411 743 on September 9, the peak for the analyzed period. When translated to percentage rate, the market capitalization of IOTX over the past week adjusted by 5%. When compared to the price fluctuations during the observed period of time, the 5% market capitalization movement was accompanied by a 5% change in the price of the coin. During the week before the analyzed time frame, the market capitalization of IoTeX moved by 7% as it went from $304 257 269 to $282 659 845, and gave a better understanding of the general direction in which this market is flowing.