NFT Alley slid down by 5% last week (January 16 - January 22) as the sellers pushed back.
NFT Alley has been bullish last week as its price has been predominantly falling. The situation on the ALLEY market shows that the underlying asset is currently experiencing a period of medium volatility. The market capitalization of the asset has been decreasing in concert with the price of the coin. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.
The volatility has been suppressed, as the NFT Alley price action suggests. We established that ALLEY didn't showcase any significant price action due to the market's mild average volatility of 7%. The coin was the most volatile on January 16, when the range of its price fluctuations reached 9.51%. The asset has been the least volatile on January 20; at this time, the volatility stood at 0.85%. The crypto coin's market didn't put up any surprises due to mild average volatility of 7%.
While the overall situation on the NFT Alley market was bullish, the trading session on January 16 kicked off at the $0.006 price level. The price of ALLEY took a 2% down downswing at the open of the weekly trading period. The coin market was down by 5% on January 17, the second day of the reviewed time period. NFT Alley posted the interim low at $0.006 on January 18 and then moved up by 1% and peaked at $0.006. The ALLEY market was down as the price shifted by 1% on January 19, against the backdrop of the sufficient trading volume. The price range of NFT Alley on January 20 formed between $0.006 and $0.006, whereas the daily price extremities were $0.006 and $0.006. The trading period on January 21 saw the crypto coin forming the price amplitude between the open at $0.006 and the close at $0.006, also interacting with $0.006 (24H low) and $0.006 (24H high). As for the occurrences on January 22, the price of the coin bottomed at $0.006 and peaked at $0.0061, while its daily range formed between $0.006 and $0.006. $0.006 was the bottom of price action for the week, though the price went to the high extreme at $0.007 over the same time period. Traders saw NFT Alley covering the $0.0003 distance between the weekly low and the weekly high, which constituted for a 5% move.
The past 7 days were marked by a change in average daily trading volume from $50.99 on January 16 to $1.09 on January 22. We can draw the comparison with the period of 7 days that preceded the reviewed one when ALLEY ’s trading volume varied from $18.09 to $163. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 44%, and the 5% price shift.
The total market capitalization of NFT Alley during the past 7-day oscillated between $7 174, the starting point that was established on January 16, and $6 786 on January 22, the end date of the reviewed period. 5% was the calculated percentage change for the ALLEY market over the past week. The price of the coin changed by 5% on the back of the 5% shift in its total market capitalization. NFT Alley ’s market capitalization from the week before changed by 18%, as the result of fluctuation between $6 190 and $7 174, to give a clearer vision of the current state of the market.