August 31 - September 6 price action review: Wabi goes down by 10%.
The price of Wabi was falling last from August 31 until September 6, giving enough reason to conclude that the market is. The price swings of WABI pointed to the presence of medium volatility. The market capitalization of the asset has been decreasing in concert with the price of the coin. The crypto coin's market experienced a falling trading volume during the observed time period, which fell in line with the price action.
The unfolding situation in the Wabi market suggests that the reviewed digital asset is in the stage of mild volatility. During the reviewed period, the volatility of WABI was in the middle register, averaging at 10%. The most significant volatility occurred on August 31 and reached 9.33%. The asset has been the least volatile on September 4; at this time, the volatility stood at 0.52%. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.
While the overall situation on the Wabi market was neutral, the trading session on August 31 kicked off at the $0.06 price level. During the opening day on August 31, WABI has had a 2% move to the downside. On September 1, the price of the coin has shifted by 2% from the daily open on the back of a good trading volume. On September 2, the market was moving to the upside as Wabi went 1% up from the low at $0.06 to the high at $0.066. The next trading session was characterized by more price action (as WABI made a 2% move) on the back of the consistent trading volume. The price range of Wabi on September 4 formed between $0.06 and $0.07, whereas the daily price extremities were $0.06 and $0.067. The activity on the crypto coin's market on September 5 resulted in the asset being traded between $0.06, the open of the day, and $0.06, the close of the day; at some point, the price spiked to the daily high at $0.06 and briefly dropped to the daily low at $0.06. 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 $0.06 and the 24H low at $0.06. The highest point of the price action over the week was at $0.07 - the weekly low during the same period was established at $0.06. Wabi bounced 10% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.006.
The trading activity on the Wabi market over the past week - August 31 to September 6 - generated the average trading volume that went from $742 946 to $325 130. During the week before August 31, the trading volume of WABI flowed from $539 491 to $4 062 489. The 72% 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 10%.
The total capitalization of Bitcoin at the start of the analyzed time period (August 31) amounted to $3 635 596; by the end of that period (September 6), the capitalization went to $3 554 377. The rate of percentage change for the last week for WABI was 2%. The said 2% percentage change in market capitalization of the coin was accompanied by the 10% fluctuation in the price of the underlying asset. 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 $3 184 675 on August 24 and $4 420 538 on August 30, which translates to a 39% change.