Nano retraces by 4% in the period September 16 - September 22 as the market turns slightly bearish.
Between September 16 - September 22, Nano has been mostly bearish as its price has been in the falling mode. The situation on the XNO market shows that the underlying asset is currently experiencing a period of low volatility. Last week’s market conditions reflected on the market capitalization of the asset, which was falling. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.
The analysis of events on the Nano market shows that the cryptocurrency under review is experiencing a period of low volatility. The data derived from our credible sources shows that the average volatility of XNO didn't exceed 0.19%, which is indicative of weak price action. Despite the overall weak performance, the volatility of the coin had its highest point at 4.94%. The calmest period on the asset's market was registered on September 21, when the volatility failed to exceed 0.19%. The volatility of 0.19% is too low for the crypto coin to engage in any attention-worthy price action.
There were no gains or losses to the XNO market on September 16, it remained flat. The price action of the coin remained on September 17 as the pushed the price up by 3%. On September 18, the market was moving to the downside as Nano went 5% down from the low at $0.8 to the high at $0.87. The trading volume on September 19 rendered support to the 3% bearish move of XNO. September 20 kicked off with Nano trading opening at $0.8 and then closing the session at $0.79, establishing the 24H low at $0.79 and 24H high at $0.8 in the process. While the 24H high and low on September 21 were at $0.82 and $0.78, respectively, the crypto coin had been traded in the area between the open at $0.8 and the close at $0.8. On the last day of the reviewed period, the coin was locked between $0.78 and $0.8, though the price managed to puncture these levels to reach the 24H high at $0.81 and the 24H low at $0.77. The price action on the asset's market during the period between September 16 and September 22 topped at $0.87, while the bottom of the price range was established at $0.76. The difference between the lowest and the highest price points for the week was 4%, as the price moved in the $0.03 wide corridor.
The trading activity on the Nano market over the past week - September 16 to September 22 - generated the average trading volume that went from $4 150 682 to $4 671 691. We can draw the comparison with the period of 7 days that preceded the reviewed one when XNO ’s trading volume varied from $1 428 982 to $5 494 571. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 71%, and the 4% price shift.
The past week saw the market capitalization of Nano making a shift from $105 224 439 on September 16 to $103 828 023 on September 22, the peak for the analyzed period. When translated to percentage rate, the market capitalization of XNO over the past week adjusted by 1%. The 1% change in the coin's market capitalization affected the price rate that saw a 4% shift in the same time period. In the preceding week, September 9 - September 15, the market capitalization of Nano got a 1% adjustment ($116 746 561 to $115 831 105) in comparison to a 1% change last week; this allows getting a deeper insight into the market structure.