The September 16 - 22 market report: Minto plunges by 36% as sellers apply more pressure.

Minto has been bearish last week as its price has been predominantly falling. BTCMT has been going through a period of medium volatility, which fell in line with the occurred price changes. There has been a fall in the market capitalization of the asset during the period under review. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.

The unfolding situation in the Minto market suggests that the reviewed digital asset is in the stage of mild volatility. We established that BTCMT didn't showcase any significant price action due to the market's mild average volatility of 15%. The highest point of the coin's volatility reached 14.05% in the analyzed time frame. The asset's volatility was at its lowest on September 20 when it dropped to 0.04%. The mild volatility registered on the crypto coin's market over the said period allows us to expect moderate price movements in both directions without significant breakouts.

On September 16, the Minto market opened at $0.75, preceded by a period of bearish action. The first day of price action was marked by the 2% move to the downside from the point where the trading session opened. On September 17 the coin market stayed neutral, with no changes in the price. The cautious traders dominated the price action on September 18, with the Minto market remaining flat. Over the next trading period (on September 19), BTCMT was moving down by 9% on the back of a congruous trading volume. Minto finalized the trading day of September 20 at $0.57 after opening it at $0.65, though the price broke through that corridor to hit the 24H high at $1.04 and the 24H low at $0.57. The activity on the crypto coin's market on September 21 resulted in the asset being traded between $0.57, the open of the day, and $0.54, the close of the day; at some point, the price spiked to the daily high at $0.57 and briefly dropped to the daily low at $0.54. Most trading activity on September 22 occurred in the space between $0.54 and $0.47; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.47, though the bulls had also staged the rally to the 24H high at $0.56. $0.47 was the bottom of price action for the week, though the price went to the high extreme at $1.05 over the same time period. Traders saw Minto covering the $0.27 distance between the weekly low and the weekly high, which constituted for a 36% move.

In the period September 16 - September 22, the trading volume of Minto went from $198 on the first day of the reviewed period to $4 355 on the closing day. A more comprehensive analysis of BTCMT price action requires the comparison of the trading volume between September 16 and September 22 with that from the preceding week that demonstrated how the trading volume fluctuated between $169 and $4 898. The average trading volume of the asset fluctuated by 81% by comparison with the previous period, whereas the price change of 36% took place over the same period of time.

The total capitalization of Bitcoin at the start of the analyzed time period (September 16) amounted to $1 866 244; by the end of that period (September 22), the capitalization went to $1 369 462. BTCMT experienced a 27% change in total market capitalization throughout the past seven days. The said 27% percentage change in market capitalization of the coin was accompanied by the 36% fluctuation in the price of the underlying asset. 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 $1 761 383 on September 9 and $1 825 853 on September 15, which translates to a 4% change.

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Article date: September 22 | September 16 - 22

Market reviews for similar coins for September 16 - 22