The capitulation of November 8 - November 14 : Oxygen experienced a 47% dive.
The price of Oxygen was falling last from November 8 until November 14, giving enough reason to conclude that the market is bearish. OXY was caught in a period of low volatility, which was reflected in its price action. 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 is low on the Oxygen market, as the latest data suggests. Our data shows that the average volatility of OXY didn't exceed 11.13%, which is why its price remained constrained. The maximum volatility of the coin stood at 15.36% in the analyzed time frame. The quietest period on the asset's market was recorded on November 12, when the volatility dropped to the minimum at 11.13%. Since the current volatility of the crypto coin is low, we expect the price fluctuations of the digital asset at hand to be insignificant.
On November 8, the Oxygen market opened at $0.04, preceded by a period of bearish action. The price action of the coin remained bearish on November 9 as the bears pushed the price down by 13%. During the next trading day, the rate of change in the price of Oxygen stood at 11% having reached the low at $0.02 and the high at $0.03 as the advantage remained on the side of sellers. Over the next trading period (on November 11), OXY was moving up by 13% on the back of a congruous trading volume. The developments on the Oxygen market on November 12 started with the price opening at $0.03 and subsequently moving to $0.03, the close of the day, while dropping to the 24H low at $0.03 and spiking to the 24H high at $0.03. The price action on November 13 saw the crypto coin moving along the following route: starting point at $0.03 and closing point at $0.02, while it also deviated to establish the high of the day at $0.028 and the low of the day at $0.023. The coin found the deepest trough (24H low) at $0.02 on November 14 and then exploded to the ceiling (24H high) at $0.02; the price range for that day was between $0.02 and $0.02. $0.02 was the bottom of price action for the week, though the price went to the high extreme at $0.04 over the same time period. The price action on the weekly time frame made Oxygen within the 47% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.02.
In the period November 8 - November 14, the trading volume of Oxygen went from $383 464 on the first day of the reviewed period to $241 469 on the closing day. In order to have a better grasp of the OXY 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 $313 822 to $489 287. The 30% trading volume fluctuation between November 8 and November 14, as compared with the previous period, served as a basis for a 47% price move.
The total capitalization of Bitcoin at the start of the analyzed time period (November 8) amounted to $8 724 050; by the end of that period (November 14), the capitalization went to $4 752 552. The percentage change in the total market capitalization of OXY amounted to 46%. When compared to the price fluctuations during the observed period of time, the 46% market capitalization movement was accompanied by a 47% change in the price of the coin. A better understanding of the lay of the land on the Oxygen market requires a comparison with the preceding week when the total market capitalization of Oxygen changed by 1% as it went from $8 962 210 to $8 724 050.