Bearish response: The Klaytn price melts by 4% between November 16 and November 22.

The price of Klaytn was falling last from November 16 until November 22, giving enough reason to conclude that the market is bearish. The volatility associated with the KLAY market was medium, as were its price fluctuations. The asset saw its market capitalization falling over the reviewed period together with its price. The price action of the crypto coin from last week stemmed from the decreasing trading volume.

The situation on the Klaytn market allows us to characterise its volatility as mild. We established that KLAY didn't showcase any significant price action due to the market's mild average volatility of 6%. The highest point of the coin's volatility reached 6.91% in the analyzed time frame. The asset has been the least volatile on November 20; at this time, the volatility stood at 0.35%. The crypto coin's market didn't put up any surprises due to mild average volatility of 6%.

The bears were dictating the terms on the Klaytn market on November 16 - the trading session opened at $0.17. On November 17 the coin market stayed neutral, with no changes in the price. The price range of Klaytn formed between $0.17 and $0.18 on November 18 as the price traveled 3% up. On November 20, KLAY market moved by 1% in the bullish direction in concert with the trading volume. The price range of Klaytn on November 20 formed between $0.17 and $0.17, whereas the daily price extremities were $0.173 and $0.177. The trading period on November 21 saw the crypto coin forming the price amplitude between the open at $0.17 and the close at $0.16, also interacting with $0.16 (24H low) and $0.16 (24H high). Most trading activity on November 22 occurred in the space between $0.16 and $0.16; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.16, though the bulls had also staged the rally to the 24H high at $0.16. The asset posted the weekly low at $0.16, while the top of the weekly trading session was registered at $0.18. Klaytn bounced 4% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.006.

As for the average trading volume in the time slot between November 16 and November 22, the Klaytn market registered the change from $34 477 501 to $24 936 076. We can draw the comparison with the period of 7 days that preceded the reviewed one when KLAY ’s trading volume varied from $34 783 464 to $93 965 467. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 63%, and the 4% price shift.

The total market capitalization of Klaytn during the past 7-day oscillated between $517 951 630, the starting point that was established on November 16, and $486 864 148 on November 22, the end date of the reviewed period. Percentage-wise, the market capitalization of KLAY has shifted by 6% in the past week. As a consequence of the 6% fluctuation in its market capitalization, the price of the coin changed by 4%. 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 $546 857 661 on November 9 and $539 879 763 on November 15, which translates to a 1% change.

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Article date: November 22 | November 16 - 22

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