November 7 - November 13 price action review: JET goes down by 7%.
The analysis of last week’s price action shows that the JET market is in the bearish phase since the price has been moving downward. The volatility associated with the JET market was low, as were its price fluctuations. The price action on the coin's market translated to the decline of market capitalization. The price action of the crypto coin last week took place on the back of decreased trading volume.
According to our market analysis, the weak price movement of JET was dictated by low volatility. The average volatility of JET was as low as 0.18%, causing the dull price action. The most significant price swings occurred on November 11, when the volatility of the coin was at its highest for the given period at 5.19%. On November 12, the asset didn't make any noticeable price movements as its volatility dropped to the lowest level at 0.18%. The volatility of 0.18% is too low for the crypto coin to engage in any attention-worthy price action.
There were no gains or losses to the JET market on November 7, it remained flat. The market sentiment on November 8 stayed bearish as the coin obtained another 1%. The price range of JET formed between $0.074 and $0.078 on November 9 as the price traveled 3% down. JET ’s performance during November 10 was the following: the price increased by 2% in conjunction with the acceptable trading volume. November 11 kicked off with JET trading opening at $0.08 and then closing the session at $0.08, establishing the 24H low at $0.075 and 24H high at $0.077 in the process. On November 12, the crypto coin showcased the following price fluctuations: the trading session began at $0.08 and then traveled from the low of the day at $0.074 to the high of the day at $0.077, closing at $0.08. Between the 24H high at $0.077 and the 24H low at $0.073, the coin was traded in the $0.08 - $0.07 price corridor. The price action on the asset's market during the period between November 7 and November 13 topped at $0.08, while the bottom of the price range was established at $0.06. Traders saw JET covering the $0.005 distance between the weekly low and the weekly high, which constituted for a 7% move.
Over the period of the last 7 days, November 7 to November 13, JET saw its average trading volume fluctuate between $121 897 and $123 248. A more comprehensive analysis of JET price action requires the comparison of the trading volume between November 7 and November 13 with that from the preceding week that demonstrated how the trading volume fluctuated between $108 157 and $140 208. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 14%, and the 7% price shift.
JET had its total market capitalization change from $12 242 599 on November 7 to $12 040 050 on November 13, the end of the examined time frame. The rate of percentage change for the last week for JET was 2%. While the market capitalization of the coin was altered by 2%, its price has made a 7% change. During the week before the analyzed time frame, the market capitalization of JET moved by 2% as it went from $12 515 473 to $12 243 513, and gave a better understanding of the general direction in which this market is flowing.