LuaSwap analysis November 5 - November 11 : bears in all-out attack as the price collapses by 44%.
The price of LuaSwap was falling last from November 5 until November 11, giving enough reason to conclude that the market is bearish. The volatility associated with the LUA market was high, as were its price fluctuations. Last week’s market conditions reflected on the market capitalization of the asset, which was falling. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.
We have established that the average volatility of LuaSwap was at 37.54% in concert with its rapid price change. The asset was the most volatile on November 5 when the registered volatility shot up to 37.54%. The coin's market was the least volatile on November 11 when this particular metric didn’t exceed 1.31%. The high volatility of 37.54% points to the possibility of unpredictable and violent price action.
The losses of LUA after the weekly open on November 5 amounted to 1%. The market sentiment on November 6 stayed as the coin obtained another 3%. The price range of LuaSwap formed between $0.013 and $0.013 on November 7 as the price traveled 4% down. The trading volume on November 8 rendered support to the 4% bearish move of LUA. The price oscillation of LuaSwap on November 9 was in the $0.01 - $0.01 range; at the same time, the price stretched out to reach the 24H low at $0.009 and the 24H high at $0.01. The trading period on November 10 saw the crypto coin forming the price amplitude between the open at $0.02 and the close at $0.006, also interacting with $0.006 (24H low) and $0.006 (24H high). As for the occurrences on November 11, the price of the coin bottomed at $0.006 and peaked at $0.02, while its daily range formed between $0.006 and $0.008. $0.006 was the bottom of price action for the week, though the price went to the high extreme at $0.03 over the same time period. As a result of price action within the designated time period, the price movement range on the LuaSwap market was established at $0.006 or 44% between the weekly low and the weekly high.
LuaSwap ’s average trading volume on the opening day of the observed time period, November 5, stood at $32 898, while on the closing day of the same period, it moved to $87 774. During the week before November 5, the trading volume of LUA flowed from $4 179 to $736 164. The 36% trading volume fluctuation between November 5 and November 11, as compared with the previous period, served as a basis for a 44% price move.
LuaSwap had its total market capitalization change from $2 544 573 on November 5 to $1 212 132 on November 11, the end of the examined time frame. The rate of percentage change for the last week for LUA was 52%. The price of the coin changed by 44% on the back of the 52% shift in its total market capitalization. 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 $2 509 816 on October 29 and $2 438 341 on November 4, which translates to a 3% change.