NEXO slid down by 4% last week (September 13 - September 19) as the sellers pushed back.

The analysis of last week’s price action shows that the NEXO market is in the bearish phase since the price has been moving downward. NEXO has been going through a period of low volatility, which fell in line with the occurred price changes. Last week’s market conditions reflected on the market capitalization of the asset, which was falling. The past week’s price movement of the crypto coin was accompanied by the falling trading volume on the corresponding market.

The volatility is low on the NEXO market, as the latest data suggests. The average volatility of NEXO was as low as 0.85%, causing the dull price action. 4.12% was the maximum volatility that the coin managed to showcase on September 17. On September 18, the asset didn't make any noticeable price movements as its volatility dropped to the lowest level at 0.85%. Since the current volatility of the crypto coin is low, we expect the price fluctuations of the digital asset at hand to be insignificant.

The 2% move in the downward direction took place on the second day after the weekly open. NEXO posted the interim low at $0.87 on September 15 and then moved down by 3% and peaked at $0.92. On September 16, the value of NEXO was in the range, with the market remaining flat. The price range of NEXO on September 17 formed between $0.89 and $0.92, whereas the daily price extremities were $0.89 and $0.92. On September 18, the crypto coin showcased the following price fluctuations: the trading session began at $0.92 and then traveled from the low of the day at $0.9 to the high of the day at $0.94, closing at $0.9. As for the occurrences on September 19, the price of the coin bottomed at $0.86 and peaked at $0.9, while its daily range formed between $0.9 and $0.89. The highest point of the price action over the week was at $0.98 - the weekly low during the same period was established at $0.86. As a result of price action within the designated time period, the price movement range on the NEXO market was established at $0.04 or 4% between the weekly low and the weekly high.

As for the average trading volume in the time slot between September 13 and September 19, the NEXO market registered the change from $7 491 511 to $5 032 787. Over the week that came before the analyzed time span, the average trading volume of NEXO ranged between $4 955 960 and $30 385 974. The 43% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 4%.

The total capitalization of Bitcoin at the start of the analyzed time period (September 13) amounted to $540 400 892; by the end of that period (September 19), the capitalization went to $492 772 066. 9% was the calculated percentage change for the NEXO market over the past week. The said 9% percentage change in market capitalization of the coin was accompanied by the 4% fluctuation in the price of the underlying asset. 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 7% as it went from $583 245 567 to $540 400 892.

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Article date: September 19 | September 13 - 19

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