Last week’s (August 28 - September 3) irresolute TRON : the price moved up no more than 1%.
The analysis of last week’s price action shows that the TRON market is in the phase since the price has been moving upward. The situation on the TRX market shows that the underlying asset is currently experiencing a period of low volatility. The market capitalization of the asset has been decreasing in concert with the price of the coin. The price action of the crypto coin from last week stemmed from the decreasing trading volume.
The price action of TRON is in a stalemate due to low volatility during the observed period. With the average volatility being as low as 0.09%, TRX was incapable of making any sizable price swings. The peak of the coin's volatility for the given time period was reached on September 1 when this parameter went as low as 2.31%. The quietest period on the asset's market was recorded on September 1, when the volatility dropped to the minimum at 0.09%. The unimpressive volatility of 0.09% showcases the overall weakness of the crypto coin.
There were no gains or losses to the TRX market on August 28, it remained flat. The price action of the coin remained on August 29 as the pushed the price up by 1%. The price range of TRON formed between $0.063 and $0.066 on August 30 as the price traveled 2% up. The next trading session was characterized by more price action (as TRX made a 2% move) on the back of the consistent trading volume. The developments on the TRON market on September 1 started with the price opening at $0.06 and subsequently moving to $0.06, the close of the day, while dropping to the 24H low at $0.062 and spiking to the 24H high at $0.062. No changes were observed on the crypto coin's market on September 2. On the last day of the reviewed period, the coin was locked between $0.06 and $0.06, though the price managed to puncture these levels to reach the 24H high at $0.063 and the 24H low at $0.062. The price action on the asset's market during the period between August 28 and September 3 topped at $0.066, while the bottom of the price range was established at $0.061. Traders saw TRON covering the $0.0004 distance between the weekly low and the weekly high, which constituted for a 1% move.
TRON ’s average trading volume on the opening day of the observed time period, August 28, stood at $314 016 049, while on the closing day of the same period, it moved to $279 020 438. Over the week that came before the analyzed time span, the average trading volume of TRX ranged between $286 471 262 and $463 579 850. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 8%, and the 1% price shift.
Bitcoin began the observed period August 28 - September 3, with the market capitalization of $5 823 556 629 and finalized it at the market capitalization level of $5 786 119 568. Percentage-wise, the market capitalization of TRX has shifted by 1% in the past week. The price of the coin changed by 1% on the back of the 1% shift in its total market capitalization. In the preceding week, August 21 - August 27, the market capitalization of TRON got a 6% adjustment ($6 092 448 043 to $5 711 541 028) in comparison to a 1% change last week; this allows getting a deeper insight into the market structure.