Wabi market outlook from September 12 - September 18 :the price surges by 43%.
The upward movement of the Wabi price last week indicates the chosen market is bullish. The situation on the WABI market shows that the underlying asset is currently experiencing a period of high volatility. The asset saw its market capitalization growing over the reviewed period together with its price. The price action of the crypto coin last week took place on the back of increased trading volume.
We have established that the average volatility of Wabi was at 33.67% in concert with its rapid price change. The volatility of the asset has reached the extreme after going as high as 33.67% - it happened on September 12. The coin saw its volatility drop to a minimum at 8.94% on September 18. 33.67% is too high a volatility for the WABI market to be considered stable and easily predictable.
The trading session on September 12 started with Wabi opening at $0.09 on the backdrop of bullish sentiment throughout the market. The first day of price action was marked by the 32% move to the upside from the point where the trading session opened. On September 13, the price of the coin has shifted by 11% from the daily open on the back of a good trading volume. The price range of Wabi formed between $0.09 and $0.1 on September 14 as the price traveled 12% down. The trading volume on September 15 rendered support to the 33% bullish move of WABI. Wabi finalized the trading day of September 16 at $0.16 after opening it at $0.12, though the price broke through that corridor to hit the 24H high at $0.17 and the 24H low at $0.11. The activity on the crypto coin's market on September 17 resulted in the asset being traded between $0.16, the open of the day, and $0.18, the close of the day; at some point, the price spiked to the daily high at $0.22 and briefly dropped to the daily low at $0.15. On the last day of the reviewed period, the coin was locked between $0.18 and $0.16, though the price managed to puncture these levels to reach the 24H high at $0.21 and the 24H low at $0.16. The price action on the asset's market during the period between September 12 and September 18 topped at $0.22, while the bottom of the price range was established at $0.08. Traders saw Wabi covering the $0.05 distance between the weekly low and the weekly high, which constituted for a 43% move.
The past 7 days were marked by a change in average daily trading volume from $2 579 599 on September 12 to $11 828 115 on September 18. In order to have a better grasp of the WABI 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 $275 036 to $13 180 060. Percentage-wise, the trading volume of the asset changed by 105%, in comparison to the previous period, while its price experienced a 43% adjustment.
The total market capitalization of Wabi during the past 7-day oscillated between $5 403 109, the starting point that was established on September 12, and $10 467 272 on September 18, the end date of the reviewed period. Percentage-wise, the market capitalization of WABI has shifted by 94% in the past week. The said 94% percentage change in market capitalization of the coin was accompanied by the 43% fluctuation in the price of the underlying asset. The comparison with the Wabi market capitalization seen during the time period September 5 - September 11 that occurred before the observed one, which changed by 33%, from $3 779 670 to $5 044 228, allows us to get a clearer understanding of current market conditions.