USDX retraces by 1% in the period August 31 - September 6 as the market turns slightly bearish.
The bearish behavior of USDX last week was characterized by the occurrence of downswings. The price swings of USDX pointed to the presence of low volatility. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.
The analysis of events on the USDX market shows that the cryptocurrency under review is experiencing a period of low volatility. With the average volatility being as low as 0.24%, USDX was incapable of making any sizable price swings. Despite the overall weak performance, the volatility of the coin had its highest point at 1.14%. The weakest volatility level of 0.24% on the asset's market was registered on September 5. Since the current volatility of the crypto coin is low, we expect the price fluctuations of the digital asset at hand to be insignificant.
The bears were dictating the terms on the USDX market on August 31 - the trading session opened at $0.96. The price of USDX took a 1% down downswing at the open of the weekly trading period. On September 1, the price of the coin has shifted by 1% from the daily open on the back of a good trading volume. The cautious traders dominated the price action on September 2, with the USDX market remaining flat. On September 4, USDX market moved by 1% in the bullish direction in concert with the trading volume. USDX finalized the trading day of September 4 at $0.95 after opening it at $0.96, though the price broke through that corridor to hit the 24H high at $0.96 and the 24H low at $0.94. No changes were observed on the crypto coin's market on September 5. The coin found the deepest trough (24H low) at $0.94 on September 6 and then exploded to the ceiling (24H high) at $0.95; the price range for that day was between $0.94 and $0.94. Over the course of all trading sessions, the asset established the weekly low at $0.94 while buyers managed to push the price up to the weekly high at $0.97. The price action on the weekly time frame made USDX 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 USDX market over the past week - August 31 to September 6 - generated the average trading volume that went from $1 468 171 to $417 364. During the week before August 31, the trading volume of USDX flowed from $409 669 to $1 457 667. Percentage-wise, the trading volume of the asset changed by 0%, in comparison to the previous period, while its price experienced a 1% adjustment.
The past week saw the market capitalization of USDX making a shift from $107 077 471 on August 31 to $105 538 217 on September 6, the peak for the analyzed period. 1% was the calculated percentage change for the USDX market over the past week. The said 1% percentage change in market capitalization of the coin was accompanied by the 1% fluctuation in the price of the underlying asset. A more precise analysis of the USDX market also requires a comparison with the change in market capitalization from the week before, which amounted to 0% on the back of the move from $106 548 746 to $106 968 379.