A 17% drop on the NFTrade market last week (September 13 - September 19) signals that the sellers are gaining strength.

NFTrade has been bearish last week as its price has been predominantly falling. 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 volatility has been suppressed, as the NFTrade price action suggests. Our comprehensive data indicates that the price change of NFTD has been moderate on the back of the average volatility of 7% for the given time period. The volatility of the coin reached its highest point at 7.17% during the observed period. The asset saw its volatility drop to the lowest level for the given period on September 17 as it shrank to 0.37%. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.

There were no gains or losses to the NFTD market on September 13, it remained flat. The price action of the coin remained bearish on September 14 as the bears pushed the price down by 1%. The bears dominated the price action during the following trading period as the price drifted 1% to the downside, having established the low for the reviewed time frame at $0.09, while the high was recorded at $0.09. NFTD ’s performance during September 16 was the following: the price declined by 7% in conjunction with the acceptable trading volume. The developments on the NFTrade market on September 17 started with the price opening at $0.08 and subsequently moving to $0.08, the close of the day, while dropping to the 24H low at $0.082 and spiking to the 24H high at $0.082. While the 24H high and low on September 18 were at $0.084 and $0.082, respectively, the crypto coin had been traded in the area between the open at $0.08 and the close at $0.08. Most trading activity on September 19 occurred in the space between $0.08 and $0.08; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.08, though the bulls had also staged the rally to the 24H high at $0.08. During the reviewed time period, the asset was able to achieve the weekly high at $0.09, though at a certain point, the bear pressurized the price down to the weekly low at $0.08. As a result of price action within the designated time period, the price movement range on the NFTrade market was established at $0.02 or 17% between the weekly low and the weekly high.

The past 7 days were marked by a change in average daily trading volume from $62 182 on September 13 to $79 962 on September 19. In order to have a better grasp of the NFTD market, it’s necessary to compare the stats from the analyzed period with those from the week before, when the trading volume had gone from $52 236 to $284 403. The 23% 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%.

The total capitalization of Bitcoin at the start of the analyzed time period (September 13) amounted to $3 231 673; by the end of that period (September 19), the capitalization went to $2 898 123. Percentage-wise, the market capitalization of NFTD has shifted by 10% in the past week. The said 10% percentage change in market capitalization of the coin was accompanied by the 17% fluctuation in the price of the underlying asset. NFTrade ’s market capitalization from the week before changed by 16%, as the result of fluctuation between $4 056 671 and $3 231 673, to give a clearer vision of the current state of the market.

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Article date: September 19 | September 13 - 19

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