Reservedly bullish : the price of NEXO grew by 9% in the period of September 6 - September 12.
The analysis of last week’s price action shows that the NEXO market is in the phase since the price has been moving upward. NEXO 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 price action of the crypto coin from last week stemmed from the decreasing trading volume.
NEXO has been moving reservedly on the backdrop of average volatility. We established that NEXO didn't showcase any significant price action due to the market's mild average volatility of 11%. The highest point of the coin's volatility reached 13.39% in the analyzed time frame. The price of the asset had fluctuated the least on September 10, when the volatility plummeted to 0.24%. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 11%.
While the overall situation on the NEXO market was neutral, the trading session on September 6 kicked off at the $1.03 price level. The 2% move in the downward direction took place on the second day after the weekly open. The price range of NEXO formed between $0.88 and $0.91 on September 8 as the price traveled 1% up. The NEXO market was up as the price shifted by 5% on September 9, against the backdrop of the sufficient trading volume. After the open at $0.94, NEXO moved during September 10 in the range between the said open and the close at $0.98, having posted the 24H low at $0.94 and the 24H high at $0.98. The price action on September 11 saw the crypto coin moving along the following route: starting point at $0.96 and closing point at $0.98, while it also deviated to establish the high of the day at $0.98 and the low of the day at $0.96. The coin found the deepest trough (24H low) at $0.95 on September 12 and then exploded to the ceiling (24H high) at $0.98; the price range for that day was between $0.98 and $0.97. Over the course of all trading sessions, the asset established the weekly low at $0.83 while buyers managed to push the price up to the weekly high at $1.04. The price action on the weekly time frame made NEXO within the 9% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.08.
Over the period of the last 7 days, September 6 to September 12, NEXO saw its average trading volume fluctuate between $6 110 127 and $4 955 960. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the NEXO market had its volume ranging between $4 764 551 and $31 548 331. Percentage-wise, the trading volume of the asset changed by 17%, in comparison to the previous period, while its price experienced a 9% adjustment.
Bitcoin began the observed period September 6 - September 12, with the market capitalization of $583 245 567 and finalized it at the market capitalization level of $545 157 300. NEXO experienced a 7% change in total market capitalization throughout the past seven days. As a consequence of the 7% fluctuation in its market capitalization, the price of the coin changed by 9%. A better understanding of the lay of the land on the NEXO market requires a comparison with the preceding week when the total market capitalization of NEXO changed by 6% as it went from $553 084 161 to $583 245 567.