Market analysis January 11 - January 17 : Kitty Coin posts a 18% rally.
Kitty Coin has been bullish last week as its price has been predominantly rising. KITTY was caught in a period of medium volatility, which was reflected in its price action. The market capitalization of the asset has been increasing in concert with the price of the coin. The price action of the crypto coin from last week stemmed from the increasing trading volume.
The volatility has been suppressed, as the Kitty Coin price action suggests. During the reviewed period, the volatility of KITTY was in the middle register, averaging at 8%. The highest point of the coin's volatility reached 10.6% in the analyzed time frame. The asset has been the least volatile on January 15; at this time, the volatility stood at 0.36%. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 8%.
There were no gains or losses to the KITTY market on January 11, it remained flat. On January 12, the price of the coin has shifted by 6% from the daily open on the back of a good 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 $0.0000000003, while the high was recorded at $0.0000000003. The KITTY market was up as the price shifted by 10% on January 14, against the backdrop of the sufficient trading volume. January 15 kicked off with Kitty Coin trading opening at $0.0000000003 and then closing the session at $0.0000000003, establishing the 24H low at $0.00000000032 and 24H high at $0.00000000033 in the process. The price action on January 16 saw the crypto coin moving along the following route: starting point at $0.0000000003 and closing point at $0.0000000003, while it also deviated to establish the high of the day at $0.00000000034 and the low of the day at $0.00000000033. As for the occurrences on January 17, the price of the coin bottomed at $0.00000000032 and peaked at $0.00000000034, while its daily range formed between $0.0000000003 and $0.0000000003. The highest point of the price action over the week was at $0.0000000003 - the weekly low during the same period was established at $0.0000000003. Traders saw Kitty Coin covering the $0.00000000005 distance between the weekly low and the weekly high, which constituted for a 18% move.
The past 7 days were marked by a change in average daily trading volume from $3.27 on January 11 to $85.96 on January 17. During the week before January 11, the trading volume of KITTY flowed from $1.51 to $673. The 609% 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 18%.
The change in the total market capitalization of Kitty Coin from January 11 to January 17 was as follows: on January 11, the capitalization was at $279 883, while on January 17, it reached the level of $342 195. Percentage-wise, the market capitalization of KITTY has shifted by 22% in the past week. While the market capitalization of the coin was altered by 22%, its price has made a 18% change. The comparison with the Kitty Coin market capitalization seen during the time period January 4 - January 10 that occurred before the observed one, which changed by 5%, from $262 812 to $275 568, allows us to get a clearer understanding of current market conditions.