Coins
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Minto
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2022-09-06

August 31 - September 6 price action review: Minto goes down by 7%.

The downward movement of the Minto price last week indicates the chosen market is bearish. The price swings of BTCMT pointed to the presence of medium volatility. There has been a rise in the market capitalization of the asset during the period under review. The past week’s price movement of the crypto coin was accompanied by the growing trading volume on the corresponding market.

The unfolding situation in the Minto market suggests that the reviewed digital asset is in the stage of mild volatility. During the reviewed period, the volatility of BTCMT was in the middle register, averaging at 13%. The volatility of the coin reached its highest point at 12.57% during the observed period. The asset's volatility was at its lowest on September 4 when it dropped to 0.8%. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 13%.

The bears were dictating the terms on the Minto market on August 31 - the trading session opened at $0.76. The price of BTCMT took a 2% down downswing at the open of the weekly trading period. The market sentiment on September 1 stayed as the coin obtained another 1%. During the following trading period on September 2, the price of Minto oscillated between the low at $0.75 and the high at $1.05, while the price moved up by 10%. Over the next trading period (on September 3), BTCMT was moving down by 2% on the back of a congruous trading volume. Minto finalized the trading day of September 4 at $0.78 after opening it at $0.78, though the price broke through that corridor to hit the 24H high at $1.05 and the 24H low at $0.77. The trading period on September 5 saw the crypto coin forming the price amplitude between the open at $0.78 and the close at $0.79, also interacting with $0.78 (24H low) and $0.78 (24H high). Most trading activity on September 6 occurred in the space between $0.79 and $0.69; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.69, though the bulls had also staged the rally to the 24H high at $1.05. During the reviewed time period, the asset was able to achieve the weekly high at $1.05, though at a certain point, the bear pressurized the price down to the weekly low at $0.69. The difference between the lowest and the highest price points for the week was 7%, as the price moved in the $0.05 wide corridor.

Minto ’s average trading volume on the opening day of the observed time period, August 31, stood at $7 216, while on the closing day of the same period, it moved to $505. During the week before August 31, the trading volume of BTCMT flowed from $51.8 to $143 457. The asset demonstrated an 88% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 7%.

The past week saw the market capitalization of Minto making a shift from $1 786 709 on August 31 to $1 866 928 on September 6, the peak for the analyzed period. The rate of percentage change for the last week for BTCMT was 4%. The price of the coin changed by 7% on the back of the 4% shift in its total market capitalization. In the preceding week, August 24 - August 30, the market capitalization of Minto got a 9% adjustment ($2 113 589 to $1 925 986) in comparison to a 4% change last week; this allows getting a deeper insight into the market structure.

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Article date: September 6 | August 31 - September 6

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