November 15 - November 21 price action review: Klaytn goes down by 6%.
The downward movement of the Klaytn price last week indicates the chosen market is bearish. The volatility associated with the KLAY market was medium, as were its price fluctuations. Last week’s market conditions reflected on the market capitalization of the asset, which was falling. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.
While the volatility remains restrained, Klaytn isn't making any explosive moves. The average volatility of 6% was the reason why the price of KLAY didn't put up any significant gains. The coin was the most volatile on November 15, when the range of its price fluctuations reached 6.91%. The asset saw its volatility drop to the lowest level for the given period on November 19 as it shrank to 0.35%. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 6%.
The first day of price action was marked by the 4% move to the downside from the point where the trading session opened. On November 16, the price of the coin has shifted by 2% from the daily open on the back of a good trading volume. The cautious traders dominated the price action on November 17, with the Klaytn market remaining flat. The KLAY market was up as the price shifted by 3% on November 18, against the backdrop of the sufficient trading volume. After the open at $0.17, Klaytn moved during November 19 in the range between the said open and the close at $0.17, having posted the 24H low at $0.17 and the 24H high at $0.17. The activity on the crypto coin's market on November 20 resulted in the asset being traded between $0.17, the open of the day, and $0.17, the close of the day; at some point, the price spiked to the daily high at $0.177 and briefly dropped to the daily low at $0.173. As for the occurrences on November 21, the price of the coin bottomed at $0.16 and peaked at $0.17, while its daily range formed between $0.17 and $0.16. $0.16 was the bottom of price action for the week, though the price went to the high extreme at $0.18 over the same time period. The difference between the lowest and the highest price points for the week was 6%, as the price moved in the $0.01 wide corridor.
Klaytn ’s average trading volume on the opening day of the observed time period, November 15, stood at $50 664 004, while on the closing day of the same period, it moved to $19 118 585. Over the week that came before the analyzed time span, the average trading volume of KLAY ranged between $34 783 464 and $93 965 467. The 57% trading volume fluctuation between November 15 and November 21, as compared with the previous period, served as a basis for a 6% price move.
Bitcoin began the observed period November 15 - November 21, with the market capitalization of $539 879 763 and finalized it at the market capitalization level of $512 231 466. The rate of percentage change for the last week for KLAY was 5%. The 5% change in the coin's market capitalization affected the price rate that saw a 6% shift in the same time period. A better understanding of the lay of the land on the Klaytn market requires a comparison with the preceding week when the total market capitalization of Klaytn changed by 22% as it went from $662 770 874 to $539 879 763.