The bullish pressure subsides between September 15 and September 21 as NEXO gains only 4%.
The price of NEXO was rising last from September 15 until September 21, giving enough reason to conclude that the market is. The price swings of NEXO pointed to the presence of low volatility. There has been a fall in the market capitalization of the asset during the period under review. The price action of the crypto coin last week took place on the back of decreased trading volume.
NEXO is experiencing low volatility, as confirmed by our comprehensive analysis. The average volatility of NEXO was as low as 0.08%, causing the dull price action. Despite the overall weak performance, the volatility of the coin had its highest point at 3.63%. On September 20, the asset didn't make any noticeable price movements as its volatility dropped to the lowest level at 0.08%. The unimpressive volatility of 0.08% showcases the overall weakness of the crypto coin.
The opening price of NEXO was at $0.91 on September 15, with having a more visible presence on the market. The price of NEXO took a 3% down downswing at the open of the weekly trading period. On September 16 the coin market stayed neutral, with no changes in the price. NEXO posted the interim low at $0.89 on September 17 and then moved up by 3% and peaked at $0.92. NEXO ’s performance during September 18 was the following: the price declined by 2% in conjunction with the acceptable trading volume. After the open at $0.9, NEXO moved during September 19 in the range between the said open and the close at $0.89, having posted the 24H low at $0.86 and the 24H high at $0.9. On September 20, the crypto coin showcased the following price fluctuations: the trading session began at $0.9 and then traveled from the low of the day at $0.89 to the high of the day at $0.9, closing at $0.89. As for the occurrences on September 21, the price of the coin bottomed at $0.87 and peaked at $0.92, while its daily range formed between $0.9 and $0.92. During the reviewed time period, the asset was able to achieve the weekly high at $0.94, though at a certain point, the bear pressurized the price down to the weekly low at $0.86. NEXO shaped the $0.04 price range over the week of price action, which constituted the 4% gap between the weekly low and the weekly high.
Over the period of the last 7 days, September 15 to September 21, NEXO saw its average trading volume fluctuate between $5 642 532 and $4 566 657. Over the week that came before the analyzed time span, the average trading volume of NEXO ranged between $4 955 960 and $12 953 179. The 37% trading volume fluctuation between September 15 and September 21, as compared with the previous period, served as a basis for a 4% price move.
The total capitalization of Bitcoin at the start of the analyzed time period (September 15) amounted to $513 724 029; by the end of that period (September 21), the capitalization went to $491 406 445. When translated to percentage rate, the market capitalization of NEXO over the past week adjusted by 4%. When compared to the price fluctuations during the observed period of time, the 4% market capitalization movement was accompanied by a 4% change in the price of the coin. 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 $505 560 323 on September 8 and $511 294 245 on September 14, which translates to a 1% change.