A 48% drop on the JET market last week (November 17 - November 23) signals that the sellers are gaining strength.

The price of JET was falling last from November 17 until November 23, giving enough reason to conclude that the market is bearish. The price swings of JET pointed to the presence of high volatility. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. The price action of the crypto coin last week took place on the back of decreased trading volume.

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 17 - it amounted to 39.17%. The quietest period on the coin's market happened on November 23 as the volatility failed to surpass the 0.3% mark. The present volatility of 39.17% is indicative of unstable market conditions.

JET began the day on November 17 at $0.06, while the broad background was bearish. The losses of JET after the weekly open on November 17 amounted to 1%. The coin market was down by 39% on November 18, the second day of the reviewed time period. JET posted the interim low at $0.034 on November 19 and then moved down by 5% and peaked at $0.035. On November 20, the value of JET was in the range, with the market remaining flat. November 21 kicked off with JET trading opening at $0.03 and then closing the session at $0.03, establishing the 24H low at $0.031 and 24H high at $0.034 in the process. The activity on the crypto coin's market on November 22 resulted in the asset being traded between $0.03, the open of the day, and $0.03, the close of the day; at some point, the price spiked to the daily high at $0.0309 and briefly dropped to the daily low at $0.03. The coin's market saw no changes on November 23, as the market flatlined. The asset posted the weekly low at $0.01, while the top of the weekly trading session was registered at $0.06. JET bounced 48% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.03.

JET ’s average trading volume on the opening day of the observed time period, November 17, stood at $124 960, while on the closing day of the same period, it moved to $82 872. We can draw the comparison with the period of 7 days that preceded the reviewed one when JET ’s trading volume varied from $37 086 to $123 248. The 27% 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 48%.

Bitcoin began the observed period November 17 - November 23, with the market capitalization of $9 151 123 and finalized it at the market capitalization level of $4 714 022. The rate of percentage change for the last week for JET was 48%. When compared to the price fluctuations during the observed period of time, the 48% market capitalization movement was accompanied by a 48% change in the price of the coin. A better understanding of the lay of the land on the JET market requires a comparison with the preceding week when the total market capitalization of JET changed by 4% as it went from $10 049 950 to $9 151 123.

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Article date: November 23 | November 17 - 23

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