A 54% drop on the JET market last week (November 13 - November 19) signals that the sellers are gaining strength.

The bearish behavior of JET last week was characterized by the occurrence of downswings. The price swings of JET pointed to the presence of high volatility. The market capitalization of the asset has been decreasing in concert with the price of the coin. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.

We have established that the average volatility of JET was at 39.17% in concert with its rapid price change. The highest volatility was recorded on November 13 - it amounted to 39.17%. The coin's market was the least volatile on November 19 when this particular metric didn’t exceed 1.28%. When the volatility goes as high as 39.17%, the JET market tends to be erratic and hard to predict.

The opening price of JET was at $0.08 on November 13, with sellers having a more visible presence on the market. The first day of price action was marked by the 5% move to the downside from the point where the trading session opened. November 14 saw the coin going another 7% since the open, supported by the corresponding trading volume. During the following trading period on November 15, the price of JET oscillated between the low at $0.067 and the high at $0.068, while the price moved down by 1%. The trading volume on November 16 rendered support to the 12% bearish move of JET. After the open at $0.06, JET moved during November 17 in the range between the said open and the close at $0.06, having posted the 24H low at $0.058 and the 24H high at $0.059. While the 24H high and low on November 18 were at $0.06 and $0.01, respectively, the crypto coin had been traded in the area between the open at $0.06 and the close at $0.04. As for the occurrences on November 19, the price of the coin bottomed at $0.034 and peaked at $0.035, while its daily range formed between $0.04 and $0.03. The price action on the asset's market during the period between November 13 and November 19 topped at $0.08, while the bottom of the price range was established at $0.01. The difference between the lowest and the highest price points for the week was 54%, as the price moved in the $0.04 wide corridor.

The past 7 days were marked by a change in average daily trading volume from $123 248 on November 13 to $29 821 on November 19. Over the week that came before the analyzed time span, the average trading volume of JET ranged between $37 086 and $133 396. 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 54%.

The change in the total market capitalization of JET from November 13 to November 19 was as follows: on November 13, the capitalization was at $12 040 050, while on November 19, it reached the level of $5 522 929. When translated to percentage rate, the market capitalization of JET over the past week adjusted by 54%. While the market capitalization of the coin was altered by 54%, its price has made a 54% change. In order to get a better grasp of the current state of affairs on the market, it’s important to draw the comparison between the reviewed period and the preceding seven days when the market capitalization ranged between $12 243 513 on November 6 and $11 722 653 on November 12, which translates to a 4% change.

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Article date: November 19 | November 13 - 19

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