Oxygen analysis November 11 - November 17 : bears in all-out attack as the price collapses by 56%.
Oxygen has been bearish last week as its price has been predominantly falling. The price swings of OXY pointed to the presence of medium volatility. The price action on the coin's market translated to the decline of market capitalization. The crypto coin's market experienced a falling trading volume during the observed time period, which fell in line with the price action.
Oxygen has been moving reservedly on the backdrop of average volatility. Given that the average volatility on the OXY market didn't exceed 19%, the price action remained limited. The coin was the most volatile on November 11, when the range of its price fluctuations reached 29.19%. The asset has been the least volatile on November 15; at this time, the volatility stood at 5.44%. 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.
OXY made a 13% step in an upward direction during the first daily trading session that took place on November 11. The coin market was down by 13% on November 12, the second day of the reviewed time period. Oxygen posted the interim low at $0.023 on November 13 and then moved down by 12% and peaked at $0.028. OXY ’s performance during November 14 was the following: the price declined by 15% in conjunction with the acceptable trading volume. The price oscillation of Oxygen on November 15 was in the $0.02 - $0.02 range; at the same time, the price stretched out to reach the 24H low at $0.02 and the 24H high at $0.02. The activity on the crypto coin's market on November 16 resulted in the asset being traded between $0.02, the open of the day, and $0.02, the close of the day; at some point, the price spiked to the daily high at $0.02 and briefly dropped to the daily low at $0.02. Most trading activity on November 17 occurred in the space between $0.02 and $0.01; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.014, though the bulls had also staged the rally to the 24H high at $0.02. During the reviewed time period, the asset was able to achieve the weekly high at $0.03, though at a certain point, the bear pressurized the price down to the weekly low at $0.01. Oxygen bounced 56% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.02.
In the period November 11 - November 17, the trading volume of Oxygen went from $171 309 on the first day of the reviewed period to $205 342 on the closing day. A more comprehensive analysis of OXY price action requires the comparison of the trading volume between November 11 and November 17 with that from the preceding week that demonstrated how the trading volume fluctuated between $257 127 and $489 287. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 45%, and the 56% price shift.
Oxygen had its total market capitalization change from $6 297 917 on November 11 to $3 970 598 on November 17, the end of the examined time frame. 37% was the calculated percentage change for the OXY market over the past week. The 37% change in the coin's market capitalization affected the price rate that saw a 56% shift in the same time period. In order to get a better grasp of the current state of affairs on the market, it’s important to draw the comparison between the reviewed period and the preceding seven days when the market capitalization ranged between $8 827 636 on November 4 and $4 987 568 on November 10, which translates to a 44% change.