The September 15 - 21 market report: Tenset plunges by 22% as sellers apply more pressure.
The price of Tenset was falling last from September 15 until September 21, giving enough reason to conclude that the market is bearish. 10SET was caught in a period of medium volatility, which was reflected in its price action. 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.
The situation on the Tenset market allows us to characterise its volatility as mild. The average volatility of 15% was the reason why the price of 10SET didn't put up any significant gains. The coin has hit the highest point of volatility on September 15. The asset's volatility was at its lowest on September 19 when it dropped to 1.6%. 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.
The opening price of Tenset was at $2.14 on September 15, with sellers having a more visible presence on the market. The price of 10SET took a 22% down downswing at the open of the weekly trading period. September 16 saw the coin going another 2% since the open, supported by the corresponding trading volume. The price range of Tenset formed between $1.45 and $1.63 on September 17 as the price traveled 9% down. On September 19, 10SET market moved by 13% in the bearish direction in concert with the trading volume. The price range of Tenset on September 19 formed between $1.31 and $1.25, whereas the daily price extremities were $1.19 and $1.31. The activity on the crypto coin's market on September 20 resulted in the asset being traded between $1.28, the open of the day, and $1.23, the close of the day; at some point, the price spiked to the daily high at $1.31 and briefly dropped to the daily low at $1.22. On the last day of the reviewed period, the coin was locked between $1.23 and $1.29, though the price managed to puncture these levels to reach the 24H high at $1.29 and the 24H low at $1.21. The asset posted the weekly low at $1.19, while the top of the weekly trading session was registered at $2.14. The price action on the weekly time frame made Tenset within the 22% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.37.
As for the average trading volume in the time slot between September 15 and September 21, the Tenset market registered the change from $1 770 062 to $377 851. Over the week that came before the analyzed time span, the average trading volume of 10SET ranged between $347 813 and $1 421 689. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 27%, and the 22% price shift.
The change in the total market capitalization of Tenset from September 15 to September 21 was as follows: on September 15, the capitalization was at $380 692 555, while on September 21, it reached the level of $228 605 608. Percentage-wise, the market capitalization of 10SET has shifted by 40% in the past week. When compared to the price fluctuations during the observed period of time, the 40% market capitalization movement was accompanied by a 22% change in the price of the coin. The comparison with the Tenset market capitalization seen during the time period September 8 - September 14 that occurred before the observed one, which changed by 1%, from $408 256 615 to $403 986 979, allows us to get a clearer understanding of current market conditions.