Minto retraces by 3% in the period September 3 - September 9 as the market turns slightly bearish.
The price of Minto was falling last from September 3 until September 9, giving enough reason to conclude that the market is bearish. The situation on the BTCMT market shows that the underlying asset is currently experiencing a period of medium volatility. The price action on the coin's market translated to the decline of market capitalization. The past week’s price movement of the crypto coin was accompanied by the falling trading volume on the corresponding market.
While the volatility remains restrained, Minto isn't making any explosive moves. We established that BTCMT didn't showcase any significant price action due to the market's mild average volatility of 12%. 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 7 when it dropped to 0.68%. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 12%.
The first day of price action was marked by the 2% move to the downside from the point where the trading session opened. The coin market was up by 1% on September 4, the second day of the reviewed time period. During the next trading day, the rate of change in the price of Minto stood at 1% having reached the low at $0.78 and the high at $1.05 as the advantage remained on the side of buyers. Over the next trading period (on September 6), BTCMT was moving down by 12% on the back of a congruous trading volume. The price range of Minto on September 7 formed between $0.69 and $0.67, whereas the daily price extremities were $0.66 and $1.04. The crypto coin opened the trading session on September 8 at $0.67 and finalized it at $0.74; the highest point of price action was at $1.05, the lowest was detected at $0.67. Most trading activity on September 9 occurred in the space between $0.74 and $0.75; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.71, though the bulls had also staged the rally to the 24H high at $1.04. The price action on the asset's market during the period between September 3 and September 9 topped at $1.05, while the bottom of the price range was established at $0.66. Traders saw Minto covering the $0.03 distance between the weekly low and the weekly high, which constituted for a 3% move.
The trading activity on the Minto market over the past week - September 3 to September 9 - generated the average trading volume that went from $5 181 to $4 898. Over the week that came before the analyzed time span, the average trading volume of BTCMT ranged between $188 and $143 457. The average trading volume of the asset fluctuated by 84% by comparison with the previous period, whereas the price change of 3% took place over the same period of time.
The total capitalization of Bitcoin at the start of the analyzed time period (September 3) amounted to $1 866 569; by the end of that period (September 9), the capitalization went to $1 761 383. 6% was the calculated percentage change for the BTCMT market over the past week. The said 6% percentage change in market capitalization of the coin was accompanied by the 3% fluctuation in the price of the underlying asset. Minto ’s market capitalization from the week before changed by 1%, as the result of fluctuation between $1 939 501 and $1 866 569, to give a clearer vision of the current state of the market.