Kusama retraces by 5% in the period November 15 - November 21 as the market turns slightly bearish.
The downward movement of the Kusama price last week indicates the chosen market is bearish. The volatility of KSM has been low throughout the reviewed period in correspondence with the price action. The market capitalization of the asset has been decreasing in concert with the price of the coin. The crypto coin's market experienced a falling trading volume during the observed time period, which fell in line with the price action.
Kusama is experiencing low volatility, as confirmed by our comprehensive analysis. The average volatility of KSM was as low as 0.76%, causing the dull price action. The most significant price swings occurred on November 19, when the volatility of the coin was at its highest for the given period at 4.05%. The weakest volatility level of 0.76% on the asset's market was registered on November 20. The crypto coin's low volatility of 0.76% points to the weakness of all market participants.
The gains of KSM after the weekly open on November 15 amounted to 3%. On November 16, the price of the coin has shifted by 1% from the daily open on the back of a good trading volume. During the following trading period on November 17, the price of Kusama oscillated between the low at $24.12 and the high at $24.95, while the price moved down by 1%. KSM ’s performance during November 18 was the following: the price declined by 2% in conjunction with the acceptable trading volume. The price oscillation of Kusama on November 19 was in the $23.8 - $24.44 range; at the same time, the price stretched out to reach the 24H low at $23.74 and the 24H high at $24.59. The trading period on November 20 saw the crypto coin forming the price amplitude between the open at $24.41 and the close at $24.66, also interacting with $24.41 (24H low) and $24.41 (24H high). Most trading activity on November 21 occurred in the space between $24.82 and $23.66; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $22.83, though the bulls had also staged the rally to the 24H high at $24.82. Over the course of all trading sessions, the asset established the weekly low at $22.83 while buyers managed to push the price up to the weekly high at $25.51. Kusama shaped the $1.18 price range over the week of price action, which constituted the 5% gap between the weekly low and the weekly high.
As for the average trading volume in the time slot between November 15 and November 21, the Kusama market registered the change from $22 205 266 to $12 361 455. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the KSM market had its volume ranging between $17 460 043 and $88 569 280. The 75% 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 5%.
The total market capitalization of Kusama during the past 7-day oscillated between $218 761 655, the starting point that was established on November 15, and $211 791 935 on November 21, the end date of the reviewed period. The rate of percentage change for the last week for KSM was 3%. The price of the coin changed by 5% on the back of the 3% shift in its total market capitalization. In the preceding week, November 8 - November 14, the market capitalization of Kusama got a 35% adjustment ($319 701 866 to $207 483 598) in comparison to a 3% change last week; this allows getting a deeper insight into the market structure.