Coins
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Spell Token
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2022-09-22

September 16 - September 22 price action review: Spell Token goes down by 10%.

The downward movement of the Spell Token price last week indicates the chosen market is bearish. The situation on the SPELL market shows that the underlying asset is currently experiencing a period of low volatility. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. The price action of the crypto coin last week took place on the back of decreased trading volume.

The price action of Spell Token is in a stalemate due to low volatility during the observed period. The average volatility of SPELL was capped at 0.25%, leading to weak fluctuations in the price of Spell Token. The most significant price swings occurred on September 20, when the volatility of the coin was at its highest for the given period at 4.3%. The price action on the asset's market was the weakest on September 21 when the volatility was at 0.25%, the minimum for the given period of time. The unimpressive volatility of 0.25% showcases the overall weakness of the crypto coin.

Spell Token began the day on September 16 at $0.001, while the broad background was bearish. There were no gains or losses to the SPELL market on September 16, it remained flat. On September 17, the price of the coin has shifted by 1% from the daily open on the back of a good trading volume. The price range of Spell Token formed between $0.0012 and $0.0012 on September 18 as the price traveled 4% down. On September 20, SPELL market moved by 4% in the bearish direction in concert with the trading volume. After the open at $0.001, Spell Token moved during September 20 in the range between the said open and the close at $0.001, having posted the 24H low at $0.0011 and the 24H high at $0.0011. The crypto coin opened the trading session on September 21 at $0.001 and finalized it at $0.001; the highest point of price action was at $0.0011, the lowest was detected at $0.0011. Most trading activity on September 22 occurred in the space between $0.001 and $0.001; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.00103, though the bulls had also staged the rally to the 24H high at $0.00109. The highest point of the price action over the week was at $0.0012 - the weekly low during the same period was established at $0.001. The price action on the weekly time frame made Spell Token within the 10% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.0001.

Over the period of the last 7 days, September 16 to September 22, Spell Token saw its average trading volume fluctuate between $27 999 608 and $21 973 111. Over the week that came before the analyzed time span, the average trading volume of SPELL ranged between $13 271 358 and $58 514 413. The 44% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 10%.

The total market capitalization of Spell Token during the past 7-day oscillated between $117 263 687, the starting point that was established on September 16, and $103 915 230 on September 22, the end date of the reviewed period. Percentage-wise, the market capitalization of SPELL has shifted by 11% in the past week. As a consequence of the 11% fluctuation in its market capitalization, the price of the coin changed by 10%. During the week before the analyzed time frame, the market capitalization of Spell Token moved by 8% as it went from $134 907 991 to $123 822 947, and gave a better understanding of the general direction in which this market is flowing.

Price
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Article date: September 22 | September 16 - 22

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