A 23% drop on the JET market last week (November 10 - November 16) signals that the sellers are gaining strength.

JET has been bearish last week as its price has been predominantly falling. The price swings of JET pointed to the presence of medium volatility. The market capitalization of the asset has been increasing in concert with the price of the coin. The past week’s price movement of the crypto coin was accompanied by the growing trading volume on the corresponding market.

The volatility has been suppressed, as the JET price action suggests. The market analysis reveals that the mild average volatility of 9% restrained JET 's price swings. The coin has hit the highest point of volatility on November 10. The price of the asset had fluctuated the least on November 14, when the volatility plummeted to 1.28%. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.

The first day of price action was marked by the 2% move to the upside from the point where the trading session opened. November 11 saw the coin going another 2% since the open, supported by the corresponding trading volume. The bulls dominated the price action during the following trading period as the price drifted 2% to the upside, having established the low for the reviewed time frame at $0.074, while the high was recorded at $0.077. The JET market was down as the price shifted by 5% on November 13, against the backdrop of the sufficient trading volume. The price oscillation of JET on November 14 was in the $0.07 - $0.07 range; at the same time, the price stretched out to reach the 24H low at $0.07 and the 24H high at $0.07. While the 24H high and low on November 15 were at $0.068 and $0.067, respectively, the crypto coin had been traded in the area between the open at $0.07 and the close at $0.07. Most trading activity on November 16 occurred in the space between $0.07 and $0.06; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.06, though the bulls had also staged the rally to the 24H high at $0.07. The price action on the asset's market during the period between November 10 and November 16 topped at $0.08, while the bottom of the price range was established at $0.06. JET bounced 23% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.02.

JET ’s average trading volume on the opening day of the observed time period, November 10, stood at $116 265, while on the closing day of the same period, it moved to $120 784. We can draw the comparison with the period of 7 days that preceded the reviewed one when JET ’s trading volume varied from $108 157 to $140 208. The 15% 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 23%.

The total capitalization of Bitcoin at the start of the analyzed time period (November 10) amounted to $10 049 950; by the end of that period (November 16), the capitalization went to $10 459 939. The rate of percentage change for the last week for JET was 4%. The price of the coin changed by 23% on the back of the 4% shift in its total market capitalization. During the week before the analyzed time frame, the market capitalization of JET moved by 3% as it went from $12 419 469 to $12 080 296, and gave a better understanding of the general direction in which this market is flowing.

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Article date: November 16 | November 10 - 16

Market reviews for similar coins for November 10 - 16