The September 10 - 16 market report: NFTrade plunges by 17% as sellers apply more pressure.
The downward movement of the NFTrade price last week indicates the chosen market is bearish. The situation on the NFTD market shows that the underlying asset is currently experiencing a period of medium volatility. The asset saw its market capitalization falling over the reviewed period together with its price. The price action of the crypto coin last week took place on the back of decreased trading volume.
The price action of NFTrade has been contained due to modest volatility. Given that the average volatility on the NFTD market didn't exceed 6%, the price action remained limited. The most significant volatility occurred on September 10 and reached 7.17%. 0.37% was the rock bottom for the asset's volatility that was reached on September 14. Due to the fact that the crypto coin has been modestly volatile, the market is unlikely to demonstrate any aggressive price swings.
The losses of NFTD after the weekly open on September 10 amounted to 2%. The market sentiment on September 11 stayed bearish as the coin obtained another 2%. During the next trading day, the rate of change in the price of NFTrade stood at 5% having reached the low at $0.092 and the high at $0.098 as the advantage remained on the side of sellers. On September 13, the value of NFTD was in the range, with the market remaining flat. September 14 kicked off with NFTrade trading opening at $0.09 and then closing the session at $0.09, establishing the 24H low at $0.09 and 24H high at $0.093 in the process. The crypto coin opened the trading session on September 15 at $0.09 and finalized it at $0.09; the highest point of price action was at $0.09, the lowest was detected at $0.09. September 16 presented us with the following price action data: the coin opened the period at $0.09 and went on to establish the low at $0.083 and the high of the day at $0.089 before closing the day at $0.08. The highest point of the price action over the week was at $0.1 - the weekly low during the same period was established at $0.08. The difference between the lowest and the highest price points for the week was 17%, as the price moved in the $0.02 wide corridor.
In the period September 10 - September 16, the trading volume of NFTrade went from $115 866 on the first day of the reviewed period to $75 718 on the closing day. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the NFTD market had its volume ranging between $48 003 and $284 403. The 32% 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 17%.
NFTrade had its total market capitalization change from $3 561 981 on September 10 to $3 112 575 on September 16, the end of the examined time frame. The rate of percentage change for the last week for NFTD was 13%. As a consequence of the 13% fluctuation in its market capitalization, the price of the coin changed by 17%. A better understanding of the lay of the land on the NFTrade market requires a comparison with the preceding week when the total market capitalization of NFTrade changed by 9% as it went from $3 844 006 to $3 561 981.