Bearish response: The Tenset price melts by 1% between September 25 and October 1.
The behavior of Tenset last week was characterized by the occurrence of downswings. 10SET has been going through a period of medium volatility, which fell in line with the occurred price changes. The price action of the coin has been accompanied by the increased market capitalization of the said digital asset. The price action of the crypto coin last week took place on the back of increased trading volume.
The situation on the Tenset market allows us to characterise its volatility as mild. The average volatility of 5% was the reason why the price of 10SET didn't put up any significant gains. The coin was the most volatile on September 25, when the range of its price fluctuations reached 5.98%. The price of the asset had fluctuated the least on September 29, when the volatility plummeted to 0.8%. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.
The first day of price action was marked by the 6% move to the upside from the point where the trading session opened. The 2% move in the downward direction took place on the second day after the weekly open. On September 27, the market was moving to the downside as Tenset went 2% down from the low at $1.22 to the high at $1.3. Over the next trading period (on September 28), 10SET was moving up by 2% on the back of a congruous trading volume. Tenset finalized the trading day of September 29 at $1.22 after opening it at $1.27, though the price broke through that corridor to hit the 24H high at $1.29 and the 24H low at $1.22. On September 30, the crypto coin showcased the following price fluctuations: the trading session began at $1.22 and then traveled from the low of the day at $1.18 to the high of the day at $1.3, closing at $1.29. Between the 24H high at $1.3 and the 24H low at $1.21, the coin was traded in the $1.22 - $1.23 price corridor. During the reviewed time period, the asset was able to achieve the weekly high at $1.3, though at a certain point, the bear pressurized the price down to the weekly low at $1.16. The price action on the weekly time frame made Tenset within the 1% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.01.
The trading activity on the Tenset market over the past week - September 25 to October 1 - generated the average trading volume that went from $739 519 to $287 546. Over the week that came before the analyzed time span, the average trading volume of 10SET ranged between $170 595 and $1 687 608. The average trading volume of the asset fluctuated by 13% by comparison with the previous period, whereas the price change of 1% took place over the same period of time.
The total capitalization of Bitcoin at the start of the analyzed time period (September 25) amounted to $214 912 041; by the end of that period (October 1), the capitalization went to $227 278 823. When translated to percentage rate, the market capitalization of 10SET over the past week adjusted by 6%. While the market capitalization of the coin was altered by 6%, its price has made a 1% change. The comparison with the Tenset market capitalization seen during the time period September 18 - September 24 that occurred before the observed one, which changed by 17%, from $272 212 912 to $225 596 945, allows us to get a clearer understanding of current market conditions.