The September 15 - 21 market report: NFTrade plunges by 23% as sellers apply more pressure.
Between September 15 - September 21, NFTrade has been mostly bearish as its price has been in the falling mode. The price swings of NFTD pointed to the presence of medium volatility. There has been a fall in the market capitalization of the asset during the period under review. The past week’s price movement of the crypto coin was accompanied by the falling trading volume on the corresponding market.
The unfolding situation in the NFTrade market suggests that the reviewed digital asset is in the stage of mild volatility. The average volatility of 8% was the reason why the price of NFTD didn't put up any significant gains. The coin has hit the highest point of volatility on September 15. The price of the asset had fluctuated the least on September 19, when the volatility plummeted to 0.51%. Since the volatility of 8% can be deemed as mild, the crypto coin's market can be characterised as composed.
The bears were dictating the terms on the NFTrade market on September 15 - the trading session opened at $0.09. During the opening day on September 15, NFTD has had a 1% move to the downside. The 7% move in the downward direction took place on the second day after the weekly open. NFTrade posted the interim low at $0.082 on September 17 and then moved up by 1% and peaked at $0.084. The next trading session was characterized by more price action (as NFTD made a 1% move) on the back of the consistent trading volume. The price oscillation of NFTrade on September 19 was in the $0.08 - $0.08 range; at the same time, the price stretched out to reach the 24H low at $0.08 and the 24H high at $0.08. The price action on September 20 saw the crypto coin moving along the following route: starting point at $0.08 and closing point at $0.07, while it also deviated to establish the high of the day at $0.078 and the low of the day at $0.071. Most trading activity on September 21 occurred in the space between $0.07 and $0.07; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.07, though the bulls had also staged the rally to the 24H high at $0.07. Over the course of all trading sessions, the asset established the weekly low at $0.07 while buyers managed to push the price up to the weekly high at $0.09. NFTrade shaped the $0.02 price range over the week of price action, which constituted the 23% gap between the weekly low and the weekly high.
Over the period of the last 7 days, September 15 to September 21, NFTrade saw its average trading volume fluctuate between $69 307 and $76 529. During the week before September 15, the trading volume of NFTD flowed from $52 236 to $137 037. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 22%, and the 23% price shift.
The total capitalization of Bitcoin at the start of the analyzed time period (September 15) amounted to $3 138 903; by the end of that period (September 21), the capitalization went to $2 461 286. NFTD experienced a 22% change in total market capitalization throughout the past seven days. As a consequence of the 22% fluctuation in its market capitalization, the price of the coin changed by 23%. During the week before the analyzed time frame, the market capitalization of NFTrade moved by 10% as it went from $3 544 000 to $3 204 553, and gave a better understanding of the general direction in which this market is flowing.