NFTrade analysis September 16 - September 22 : bears in all-out attack as the price collapses by 16%.
The bearish behavior of NFTrade last week was characterized by the occurrence of downswings. The situation on the NFTD market shows that the underlying asset is currently experiencing a period of medium volatility. There has been a fall in the market capitalization of the asset during the period under review. The crypto coin's market experienced a falling trading volume during the observed time period, which fell in line with the price action.
The unfolding situation in the NFTrade market suggests that the reviewed digital asset is in the stage of mild volatility. The market analysis reveals that the mild average volatility of 8% restrained NFTD 's price swings. The highest point of the coin's volatility reached 8.43% in the analyzed time frame. The asset has been the least volatile on September 20; at this time, the volatility stood at 0.51%. The mild volatility registered on the crypto coin's market over the said period allows us to expect moderate price movements in both directions without significant breakouts.
While the overall situation on the NFTrade market was bearish, the trading session on September 16 kicked off at the $0.09 price level. On September 16, the first trading session of the reviewed time period, the market participants saw NFTD moving down by 7%. On September 17, the price of the coin has shifted by 1% from the daily open on the back of a good trading volume. During the following trading period on September 18, the price of NFTrade oscillated between the low at $0.082 and the high at $0.084, while the price moved down by 1%. The trading volume on September 19 rendered support to the 7% bearish move of NFTD. The price oscillation of NFTrade on September 20 was in the $0.08 - $0.07 range; at the same time, the price stretched out to reach the 24H low at $0.071 and the 24H high at $0.078. The trading period on September 21 saw the crypto coin forming the price amplitude between the open at $0.07 and the close at $0.07, also interacting with $0.07 (24H low) and $0.07 (24H high). On the last day of the reviewed period, the coin was locked between $0.07 and $0.07, though the price managed to puncture these levels to reach the 24H high at $0.07 and the 24H low at $0.067. $0.07 was the bottom of price action for the week, though the price went to the high extreme at $0.09 over the same time period. NFTrade shaped the $0.01 price range over the week of price action, which constituted the 16% gap between the weekly low and the weekly high.
NFTrade ’s average trading volume on the opening day of the observed time period, September 16, stood at $75 718, while on the closing day of the same period, it moved to $62 988. During the week before September 16, the trading volume of NFTD flowed from $52 236 to $115 866. The average trading volume of the asset fluctuated by 36% by comparison with the previous period, whereas the price change of 16% took place over the same period of time.
Bitcoin began the observed period September 16 - September 22, with the market capitalization of $3 112 575 and finalized it at the market capitalization level of $2 374 452. Percentage-wise, the market capitalization of NFTD has shifted by 24% in the past week. The said 24% percentage change in market capitalization of the coin was accompanied by the 16% fluctuation in the price of the underlying asset. NFTrade ’s market capitalization from the week before changed by 10%, as the result of fluctuation between $3 498 392 and $3 112 575, to give a clearer vision of the current state of the market.