November 17 - November 23 price action review: Uniswap goes down by 6%.

The behavior of Uniswap last week was characterized by the occurrence of downswings. The volatility of UNI has been medium throughout the reviewed period in correspondence with the price action. There has been a fall in the market capitalization of the asset during the period under review. The price action of the crypto coin from last week stemmed from the decreasing trading volume.

The unfolding situation in the Uniswap market suggests that the reviewed digital asset is in the stage of mild volatility. Given that the average volatility on the UNI market didn't exceed 5%, the price action remained limited. The coin was the most volatile on November 17, when the range of its price fluctuations reached 6.67%. The asset's volatility was at its lowest on November 21 when it dropped to 0%. Due to the fact that the crypto coin has been modestly volatile, the market is unlikely to demonstrate any aggressive price swings.

The first day of price action was marked by the 3% move to the downside from the point where the trading session opened. On November 18 the coin market stayed neutral, with no changes in the price. During the next trading day, the rate of change in the price of Uniswap stood at 1% having reached the low at $5.74 and the high at $5.85 as the advantage remained on the side of sellers. On November 21, UNI market moved by 3% in the bearish direction in concert with the trading volume. Uniswap finalized the trading day of November 21 at $5.18 after opening it at $5.54, though the price broke through that corridor to hit the 24H high at $5.55 and the 24H low at $5.18. While the 24H high and low on November 22 were at $5.37 and $4.98, respectively, the crypto coin had been traded in the area between the open at $5.15 and the close at $5.26. The coin found the deepest trough (24H low) at $5.27 on November 23 and then exploded to the ceiling (24H high) at $5.5; the price range for that day was between $5.27 and $5.44. Over the course of all trading sessions, the asset established the weekly low at $4.98 while buyers managed to push the price up to the weekly high at $6.03. Traders saw Uniswap covering the $0.36 distance between the weekly low and the weekly high, which constituted for a 6% move.

The past 7 days were marked by a change in average daily trading volume from $124 292 419 on November 17 to $151 639 096 on November 23. In order to have a better grasp of the UNI market, it’s necessary to compare the stats from the analyzed period with those from the week before, when the trading volume had gone from $174 099 283 to $309 805 549. The 58% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 6%.

Uniswap had its total market capitalization change from $4 489 495 045 on November 17 to $3 994 409 560 on November 23, the end of the examined time frame. Percentage-wise, the market capitalization of UNI has shifted by 11% in the past week. The 11% change in the coin's market capitalization affected the price rate that saw a 6% shift in the same time period. In order to get a better grasp of the current state of affairs on the market, it’s important to draw the comparison between the reviewed period and the preceding seven days when the market capitalization ranged between $3 662 750 561 on November 10 and $4 746 335 342 on November 16, which translates to a 30% change.

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Article date: November 23 | November 17 - 23

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