Down by 2% : The IoTeX market saw some bearish action last week (November 17 - November 23).
IoTeX has been last week as its price has been predominantly falling. IOTX has been going through a period of medium volatility, which fell in line with the occurred price changes. The price action on the coin's market translated to the decline of market capitalization. The price action of the crypto coin from last week stemmed from the decreasing trading volume.
The unfolding situation in the IoTeX market suggests that the reviewed digital asset is in the stage of mild volatility. Our comprehensive data indicates that the price change of IOTX has been moderate on the back of the average volatility of 5% for the given time period. The highest point of the coin's volatility reached 5.87% in the analyzed time frame. The asset saw its volatility drop to the lowest level for the given period on November 21 as it shrank to 0.54%. The crypto coin's market didn't put up any surprises due to mild average volatility of 5%.
IOTX made a 1% step in an upward direction during the first daily trading session that took place on November 17. The price action of the coin remained on November 18 as the pushed the price up by 1%. The bulls dominated the price action during the following trading period as the price drifted 1% to the upside, having established the low for the reviewed time frame at $0.0251, while the high was recorded at $0.0256. IOTX ’s performance during November 20 was the following: the price declined by 6% in conjunction with the acceptable trading volume. November 21 kicked off with IoTeX trading opening at $0.02 and then closing the session at $0.02, establishing the 24H low at $0.023 and 24H high at $0.024 in the process. On November 22, the crypto coin showcased the following price fluctuations: the trading session began at $0.02 and then traveled from the low of the day at $0.022 to the high of the day at $0.023, closing at $0.02. As for the occurrences on November 23, the price of the coin bottomed at $0.023 and peaked at $0.025, while its daily range formed between $0.02 and $0.02. During the reviewed time period, the asset was able to achieve the weekly high at $0.026, though at a certain point, the bear pressurized the price down to the weekly low at $0.022. The difference between the lowest and the highest price points for the week was 2%, as the price moved in the $0.0006 wide corridor.
The past 7 days were marked by a change in average daily trading volume from $5 670 325 on November 17 to $4 358 187 on November 23. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the IOTX market had its volume ranging between $5 406 572 and $19 781 320. Percentage-wise, the trading volume of the asset changed by 53%, in comparison to the previous period, while its price experienced a 2% adjustment.
The past week saw the market capitalization of IoTeX making a shift from $229 824 626 on November 17 to $220 780 833 on November 23, the peak for the analyzed period. 4% was the calculated percentage change for the IOTX market over the past week. The 4% change in the coin's market capitalization affected the price rate that saw a 2% 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 10% on the back of the move from $215 795 883 to $237 356 731.