Poly-Peg Mdex retraces by 3% in the period January 16 - January 22 as the market turns slightly bearish.
The bullish behavior of Poly-Peg Mdex last week was characterized by the occurrence of downswings. The situation on the HMDX market shows that the underlying asset is currently experiencing a period of medium volatility. No rise or fall was observed in the market capitalization of the coin during the period under review. No growth or loss has been observed in trading volume on the crypto coin's market.
The situation on the Poly-Peg Mdex market allows us to characterise its volatility as mild. During the reviewed period, the volatility of HMDX was in the middle register, averaging at 7%. The coin has hit the highest point of volatility on January 16. The asset's volatility was at its lowest on January 20 when it dropped to 0.7%. The crypto coin's market didn't put up any surprises due to mild average volatility of 7%.
Poly-Peg Mdex began the day on January 16 at $0.08, while the broad background was bullish. The gains of HMDX after the weekly open on January 16 amounted to 8%. The market sentiment on January 17 stayed as the coin obtained another 3%. The bears dominated the price action during the following trading period as the price drifted 7% to the downside, having established the low for the reviewed time frame at $0.08, while the high was recorded at $0.08. Over the next trading period (on January 19), HMDX was moving down by 2% on the back of a congruous trading volume. After the open at $0.08, Poly-Peg Mdex moved during January 20 in the range between the said open and the close at $0.08, having posted the 24H low at $0.08 and the 24H high at $0.08. The trading period on January 21 saw the crypto coin forming the price amplitude between the open at $0.08 and the close at $0.08, also interacting with $0.081 (24H low) and $0.081 (24H high). January 22 presented us with the following price action data: the coin opened the period at $0.08 and went on to establish the low at $0.081 and the high of the day at $0.085 before closing the day at $0.08. $0.08 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. Poly-Peg Mdex shaped the $0.003 price range over the week of price action, which constituted the 3% gap between the weekly low and the weekly high.
Poly-Peg Mdex ’s average trading volume on the opening day of the observed time period, January 16, stood at $3 562, while on the closing day of the same period, it moved to $11 461. We can draw the comparison with the period of 7 days that preceded the reviewed one when HMDX ’s trading volume varied from $319 to $38 542. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 27%, and the 3% price shift.
HMDX experienced no change in total market capitalization during the past week. The price of the coin was not changed, with a 0% shift in its total market capitalization. Poly-Peg Mdex market capitalization from the week before experienced no change, as a result there were no price fluctuations.