September 16 - September 22 price action recap: NEXO sees a weak 5% gain as the buyers take a step back.
The analysis of last week’s price action shows that the NEXO market is in the phase since the price has been moving upward. The volatility associated with the NEXO market was low, as were its price fluctuations. Last week’s market conditions reflected on the market capitalization of the asset, which was falling. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.
The price action of NEXO is in a stalemate due to low volatility during the observed period. The average volatility of NEXO was as low as 0.08%, causing the dull price action. The peak of the coin's volatility for the given time period was reached on September 20 when this parameter went as low as 3.63%. The price action on the asset's market was the weakest on September 21 when the volatility was at 0.08%, the minimum for the given period of time. The unimpressive volatility of 0.08% showcases the overall weakness of the crypto coin.
There were no gains or losses to the NEXO market on September 16, it remained flat. The coin market was up by 3% on September 17, the second day of the reviewed time period. During the following trading period on September 18, the price of NEXO oscillated between the low at $0.9 and the high at $0.94, while the price moved down by 2%. The next trading session was characterized by more price action (as NEXO made a 2% move) on the back of the consistent trading volume. NEXO finalized the trading day of September 20 at $0.89 after opening it at $0.9, though the price broke through that corridor to hit the 24H high at $0.9 and the 24H low at $0.89. The trading period on September 21 saw the crypto coin forming the price amplitude between the open at $0.9 and the close at $0.92, also interacting with $0.87 (24H low) and $0.87 (24H high). The coin found the deepest trough (24H low) at $0.86 on September 22 and then exploded to the ceiling (24H high) at $0.93; the price range for that day was between $0.89 and $0.93. The highest point of the price action over the week was at $0.94 - the weekly low during the same period was established at $0.86. NEXO bounced 5% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.04.
As for the average trading volume in the time slot between September 16 and September 22, the NEXO market registered the change from $6 633 247 to $5 860 932. 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. Percentage-wise, the trading volume of the asset changed by 32%, in comparison to the previous period, while its price experienced a 5% adjustment.
The change in the total market capitalization of NEXO from September 16 to September 22 was as follows: on September 16, the capitalization was at $495 843 639, while on September 22, it reached the level of $487 323 603. NEXO experienced a 2% change in total market capitalization throughout the past seven days. The price of the coin changed by 5% on the back of the 2% shift in its total market capitalization. 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 $500 518 929 on September 9 and $513 724 029 on September 15, which translates to a 3% change.