Down by 4% : The TRON market saw some bearish action last week (September 17 - September 23).

The downward movement of the TRON price last week indicates the chosen market is bearish. The volatility associated with the TRX market was low, as were its price fluctuations. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. The past week’s price movement of the crypto coin was accompanied by the falling trading volume on the corresponding market.

The volatility is low on the TRON market, as the latest data suggests. The average volatility of TRX was capped at 0.3%, leading to weak fluctuations in the price of TRON. Despite the overall weak performance, the volatility of the coin had its highest point at 3.17%. The calmest period on the asset's market was registered on September 22, when the volatility failed to exceed 0.3%. The crypto coin's low volatility of 0.3% points to the weakness of all market participants.

On September 17, the first trading session of the reviewed time period, the market participants saw TRX moving up by 1%. On September 18 the coin market stayed neutral, with no changes in the price. The price range of TRON formed between $0.06 and $0.06 on September 19 as the price traveled 3% down. On September 21, TRX market moved by 1% in the bearish direction in concert with the trading volume. The developments on the TRON market on September 21 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 $0.06 and spiking to the 24H high at $0.06. No changes were observed on the crypto coin's market on September 22. The coin found the deepest trough (24H low) at $0.06 on September 23 and then exploded to the ceiling (24H high) at $0.06; the price range for that day was between $0.06 and $0.06. The highest point of the price action over the week was at $0.06 - the weekly low during the same period was established at $0.06. TRON bounced 4% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.002.

As for the average trading volume in the time slot between September 17 and September 23, the TRON market registered the change from $322 705 652 to $333 244 491. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the TRX market had its volume ranging between $299 237 778 and $413 963 304. The average trading volume of the asset fluctuated by 11% by comparison with the previous period, whereas the price change of 4% took place over the same period of time.

The past week saw the market capitalization of TRON making a shift from $5 663 257 424 on September 17 to $5 569 834 850 on September 23, the peak for the analyzed period. When translated to percentage rate, the market capitalization of TRX over the past week adjusted by 2%. As a consequence of the 2% fluctuation in its market capitalization, the price of the coin changed by 4%. TRON ’s market capitalization from the week before changed by 3%, as the result of fluctuation between $5 855 650 753 and $5 663 257 424, to give a clearer vision of the current state of the market.

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Article date: September 23 | September 17 - 23

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