A 27% drop on the SW DAO market last week (September 6 - September 12) signals that the sellers are gaining strength.
The price of SW DAO was falling last from September 6 until September 12, giving enough reason to conclude that the market is bearish. SWD has been going through a period of high volatility, which fell in line with the occurred price changes. The asset saw its market capitalization falling over the reviewed period together with its price. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.
Due to the active price action, the average volatility of SW DAO jumped to 23.7%. The largest volatility percentage during the given time span was 23.7% - it occurred on September 6. The quietest period on the coin's market happened on September 12 as the volatility failed to surpass the 0% mark. The present volatility of 23.7% renders the SWD market unstable with the possibility of violent price swings.
The trading session on September 6 started with SW DAO opening at $2.7 on the backdrop of bearish sentiment throughout the market. There were no gains or losses to the SWD market on September 6, it remained flat. On September 7, the price of the coin has shifted by 24% from the daily open on the back of a good trading volume. The bulls dominated the price action during the following trading period as the price drifted 1% to the upside, having established the low for the reviewed time frame at $2.05, while the high was recorded at $2.1. On September 9, the value of SWD was in the range, with the market remaining flat. The price range of SW DAO on September 10 formed between $2.06 and $1.97, whereas the daily price extremities were $1.97 and $2.06. No changes were observed on the crypto coin's market on September 11. The coin's market saw no changes on September 12, as the market flatlined. The asset posted the weekly low at $1.96, while the top of the weekly trading session was registered at $2.71. Traders saw SW DAO covering the $0.73 distance between the weekly low and the weekly high, which constituted for a 27% move.
The past 7 days were marked by a change in average daily trading volume from $264 on September 6 to $1.32 on September 12. Over the week that came before the analyzed time span, the average trading volume of SWD ranged between $0.62 and $619. The asset demonstrated an 15% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 27%.
SW DAO had its total market capitalization change from $825 759 on September 6 to $788 352 on September 12, the end of the examined time frame. SWD experienced a 5% change in total market capitalization throughout the past seven days. The price of the coin changed by 27% on the back of the 5% shift in its total market capitalization. The comparison with the SW DAO market capitalization seen during the time period August 30 - September 5 that occurred before the observed one, which changed by 2%, from $1 114 404 to $1 088 382, allows us to get a clearer understanding of current market conditions.