LuaSwap analysis November 9 - November 15 : bears in all-out attack as the price collapses by 31%.
The downward movement of the LuaSwap price last week indicates the chosen market is bearish. The situation on the LUA market shows that the underlying asset is currently experiencing a period of high volatility. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.
The volatility of LuaSwap was at 37.54% on average, which caused noticeable price fluctuations. The peak of the asset's volatility fell on November 9 after it went all the way to 37.54%. The coin's market was the least volatile on November 15 when this particular metric didn’t exceed 0.54%. 37.54% is too high a volatility for the LUA market to be considered stable and easily predictable.
On November 9, the LuaSwap market opened at $0.01, preceded by a period of bearish action. During the opening day on November 9, LUA has had a 20% move to the downside. The market sentiment on November 10 stayed bearish as the coin obtained another 59%. During the next trading day, the rate of change in the price of LuaSwap stood at 23% having reached the low at $0.006 and the high at $0.02 as the advantage remained on the side of buyers. On November 13, LUA market moved by 32% in the bearish direction in concert with the trading volume. November 13 kicked off with LuaSwap trading opening at $0.006 and then closing the session at $0.007, establishing the 24H low at $0.006 and 24H high at $0.009 in the process. The price action on November 14 saw the crypto coin moving along the following route: starting point at $0.007 and closing point at $0.007, while it also deviated to establish the high of the day at $0.009 and the low of the day at $0.007. Most trading activity on November 15 occurred in the space between $0.007 and $0.007; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.0068, though the bulls had also staged the rally to the 24H high at $0.0069. During the reviewed time period, the asset was able to achieve the weekly high at $0.02, though at a certain point, the bear pressurized the price down to the weekly low at $0.006. Traders saw LuaSwap covering the $0.003 distance between the weekly low and the weekly high, which constituted for a 31% move.
The trading activity on the LuaSwap market over the past week - November 9 to November 15 - generated the average trading volume that went from $28 799 to $142. A more comprehensive analysis of LUA price action requires the comparison of the trading volume between November 9 and November 15 with that from the preceding week that demonstrated how the trading volume fluctuated between $7 921 and $62 811. The 99% 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 31%.
Bitcoin began the observed period November 9 - November 15, with the market capitalization of $1 880 124 and finalized it at the market capitalization level of $1 273 042. The rate of percentage change for the last week for LUA was 32%. When compared to the price fluctuations during the observed period of time, the 32% market capitalization movement was accompanied by a 31% 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 1% on the back of the move from $2 314 544 to $2 347 548.