Coins
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Kusama
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2022-11-20

Restrained price action on November 14 to November 20 as Kusama moves up by only 3%.

Kusama has been last week as its price has been predominantly rising. The price swings of KSM pointed to the presence of low volatility. The price action of the coin has been accompanied by the increased market capitalization of the said digital asset. The crypto coin's market experienced a growing trading volume during the observed time period, which fell in line with the price action.

The analysis of events on the Kusama market shows that the cryptocurrency under review is experiencing a period of low volatility. Our data shows that the average volatility of KSM didn't exceed 0.54%, which is why its price remained constrained. The most significant price swings occurred on November 18, when the volatility of the coin was at its highest for the given period at 4.01%. The calmest period on the asset's market was registered on November 19, when the volatility failed to exceed 0.54%. Since the crypto coin is displaying low levels of volatility, the price action is likely to remain feeble.

The were dictating the terms on the Kusama market on November 14 - the trading session opened at $24.16. The price of KSM took a 1% down downswing at the open of the weekly trading period. November 15 saw the coin going another 3% since the open, supported by the corresponding trading volume. During the following trading period on November 16, the price of Kusama oscillated between the low at $24.5 and the high at $25.43, while the price moved down by 1%. The next trading session was characterized by more price action (as KSM made a 1% move) on the back of the consistent trading volume. Kusama finalized the trading day of November 18 at $23.84 after opening it at $24.27, though the price broke through that corridor to hit the 24H high at $24.79 and the 24H low at $23.84. The price action on November 19 saw the crypto coin moving along the following route: starting point at $23.8 and closing point at $24.44, while it also deviated to establish the high of the day at $24.59 and the low of the day at $23.74. Most trading activity on November 20 occurred in the space between $24.41 and $24.66; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $24.41, though the bulls had also staged the rally to the 24H high at $24.94. Over the course of all trading sessions, the asset established the weekly low at $22.1 while buyers managed to push the price up to the weekly high at $25.51. Kusama bounced 3% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.78.

Kusama ’s average trading volume on the opening day of the observed time period, November 14, stood at $19 333 832, while on the closing day of the same period, it moved to $7 355 886. A more comprehensive analysis of KSM price action requires the comparison of the trading volume between November 14 and November 20 with that from the preceding week that demonstrated how the trading volume fluctuated between $17 460 043 and $97 628 334. The average trading volume of the asset fluctuated by 78% by comparison with the previous period, whereas the price change of 3% took place over the same period of time.

The past week saw the market capitalization of Kusama making a shift from $207 483 598 on November 14 to $221 051 073 on November 20, the peak for the analyzed period. KSM experienced a 7% change in total market capitalization throughout the past seven days. The 7% change in the coin's market capitalization affected the price rate that saw a 3% shift in the same time period. Kusama ’s market capitalization from the week before changed by 34%, as the result of fluctuation between $326 865 206 and $207 483 598, to give a clearer vision of the current state of the market.

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Article date: November 20 | November 14 - 20

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