Buyers weakened their grip on the The Graph market (November 18 - November 24) as the price rose only by 1%.
Between November 18 - November 24, The Graph has been mostly bearish as its price has been in the rising mode. GRT was caught in a period of medium volatility, which was reflected in its price action. There has been a rise in the market capitalization of the asset during the period under review. The trading volume on the crypto coin's market has been increasing throughout the reviewed period along with its price.
The unfolding situation in the The Graph market suggests that the reviewed digital asset is in the stage of mild volatility. During the reviewed period, the volatility of GRT was in the middle register, averaging at 13%. The largest volatility for the given period occurred on November 18 and amounted to 14.95%. The asset's volatility was at its lowest on November 22 when it dropped to 0.4%. Due to the fact that the crypto coin has been modestly volatile, the market is unlikely to demonstrate any aggressive price swings.
The opening price of The Graph was at $0.06 on November 18, with sellers having a more visible presence on the market. The price of GRT took a 1% down downswing at the open of the weekly trading period. On November 19 the coin market stayed neutral, with no changes in the price. The bears dominated the price action during the following trading period as the price drifted 2% to the downside, having established the low for the reviewed time frame at $0.06, while the high was recorded at $0.06. On November 22, GRT market moved by 9% in the bearish direction in concert with the trading volume. The price oscillation of The Graph on November 22 was in the $0.05 - $0.05 range; at the same time, the price stretched out to reach the 24H low at $0.052 and the 24H high at $0.055. The price action on November 23 saw the crypto coin moving along the following route: starting point at $0.05 and closing point at $0.06, while it also deviated to establish the high of the day at $0.07 and the low of the day at $0.05. As for the occurrences on November 24, the price of the coin bottomed at $0.06 and peaked at $0.063, while its daily range formed between $0.06 and $0.06. Over the course of all trading sessions, the asset established the weekly low at $0.05 while buyers managed to push the price up to the weekly high at $0.07. Traders saw The Graph covering the $0.0003 distance between the weekly low and the weekly high, which constituted for a 1% move.
The past 7 days were marked by a change in average daily trading volume from $17 140 554 on November 18 to $84 461 864 on November 24. We can draw the comparison with the period of 7 days that preceded the reviewed one when GRT ’s trading volume varied from $17 474 729 to $58 113 040. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 6%, and the 1% price shift.
The past week saw the market capitalization of The Graph making a shift from $450 534 143 on November 18 to $461 958 949 on November 24, the peak for the analyzed period. GRT experienced a 3% change in total market capitalization throughout the past seven days. The price of the coin changed by 1% on the back of the 3% shift in its total market capitalization. The comparison with the The Graph market capitalization seen during the time period November 11 - November 17 that occurred before the observed one, which changed by 10%, from $512 978 399 to $459 906 122, allows us to get a clearer understanding of current market conditions.