The bears had a field day between November 7 and November 13 as LuaSwap got knocked down by 45%.

The analysis of last week’s price action shows that the LuaSwap market is in the bearish phase since the price has been moving downward. The volatility associated with the LUA market was high, as were its price fluctuations. The price action on the coin's market translated to the decline of market capitalization. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.

The considerable chops and changes in the price of LuaSwap resulted in average volatility of 37.54%. The volatility of the asset has reached the extreme after going as high as 37.54% - it happened on November 7. The volatility of the coin fell to its lowest on November 13 when it slid to 1.89%. The present volatility of 37.54% is indicative of unstable market conditions.

The opening price of LuaSwap was at $0.01 on November 7, with sellers having a more visible presence on the market. The losses of LUA after the weekly open on November 7 amounted to 4%. On November 8, the price of the coin has shifted by 4% from the daily open on the back of a good trading volume. On November 9, the market was moving to the downside as LuaSwap went 20% down from the low at $0.009 to the high at $0.01. On November 11, LUA market moved by 59% in the bearish direction in concert with the trading volume. The developments on the LuaSwap market on November 11 started with the price opening at $0.006 and subsequently moving to $0.008, the close of the day, while dropping to the 24H low at $0.006 and spiking to the 24H high at $0.006. While the 24H high and low on November 12 were at $0.009 and $0.006, respectively, the crypto coin had been traded in the area between the open at $0.009 and the close at $0.006. The coin found the deepest trough (24H low) at $0.006 on November 13 and then exploded to the ceiling (24H high) at $0.009; the price range for that day was between $0.006 and $0.007. The highest point of the price action over the week was at $0.02 - the weekly low during the same period was established at $0.006. 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 45% between the weekly low and the weekly high.

LuaSwap ’s average trading volume on the opening day of the observed time period, November 7, stood at $62 811, while on the closing day of the same period, it moved to $66 973. A more comprehensive analysis of LUA price action requires the comparison of the trading volume between November 7 and November 13 with that from the preceding week that demonstrated how the trading volume fluctuated between $4 179 and $61 601. The asset demonstrated an 196% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 45%.

The total market capitalization of LuaSwap during the past 7-day oscillated between $2 388 393, the starting point that was established on November 7, and $1 154 176 on November 13, the end date of the reviewed period. When translated to percentage rate, the market capitalization of LUA over the past week adjusted by 52%. When compared to the price fluctuations during the observed period of time, the 52% market capitalization movement was accompanied by a 45% change in the price of the coin. A more precise analysis of the LuaSwap market also requires a comparison with the change in market capitalization from the week before, which amounted to 3% on the back of the move from $2 401 200 to $2 471 713.

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Article date: November 13 | November 7 - 13

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