The bulls muster more strength as Wabi rises by 22% from September 16 to September 22.
The upward movement of the Wabi price last week indicates the chosen market is bullish. The price swings of WABI pointed to the presence of high volatility. The market capitalization of the asset has been increasing in concert with the price of the coin. The crypto coin's market experienced a growing trading volume during the observed time period, which fell in line with the price action.
We have established that the average volatility of Wabi was at 33.67% in concert with its rapid price change. September 16 was the day when the asset was the most volatile, with the volatility going as high as 33.67%. The coin saw its volatility drop to a minimum at 0.11% on September 22. The present volatility of 33.67% renders the WABI market unstable with the possibility of violent price swings.
On September 16, the Wabi market opened at $0.12, preceded by a period of bullish action. WABI made a 35% step in an upward direction during the first daily trading session that took place on September 16. The market sentiment on September 17 stayed bullish as the coin obtained another 12%. During the following trading period on September 18, the price of Wabi oscillated between the low at $0.16 and the high at $0.21, while the price moved down by 10%. The WABI market was up as the price shifted by 11% on September 19, against the backdrop of the sufficient trading volume. The developments on the Wabi market on September 20 started with the price opening at $0.19 and subsequently moving to $0.18, the close of the day, while dropping to the 24H low at $0.17 and spiking to the 24H high at $0.17. The price action on September 21 saw the crypto coin moving along the following route: starting point at $0.18 and closing point at $0.21, while it also deviated to establish the high of the day at $0.22 and the low of the day at $0.17. September 22 presented us with the following price action data: the coin opened the period at $0.2 and went on to establish the low at $0.19 and the high of the day at $0.25 before closing the day at $0.19. The highest point of the price action over the week was at $0.25 - the weekly low during the same period was established at $0.11. Traders saw Wabi covering the $0.03 distance between the weekly low and the weekly high, which constituted for a 22% move.
The past 7 days were marked by a change in average daily trading volume from $6 235 299 on September 16 to $8 878 827 on September 22. A more comprehensive analysis of WABI price action requires the comparison of the trading volume between September 16 and September 22 with that from the preceding week that demonstrated how the trading volume fluctuated between $1 562 529 and $13 180 060. The asset demonstrated an 70% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 22%.
Wabi had its total market capitalization change from $6 697 687 on September 16 to $13 793 625 on September 22, the end of the examined time frame. The rate of percentage change for the last week for WABI was 106%. When compared to the price fluctuations during the observed period of time, the 106% market capitalization movement was accompanied by a 22% change in the price of the coin. Wabi ’s market capitalization from the week before changed by 18%, as the result of fluctuation between $4 484 998 and $6 697 687, to give a clearer vision of the current state of the market.