The bullish pressure subsides between September 15 and September 21 as XDC Network gains only 2%.
The upward movement of the XDC Network price last week indicates the chosen market is. XDC has been going through a period of low volatility, which fell in line with the occurred price changes. Last week’s market conditions reflected on the market capitalization of the asset, which was falling. The past week’s price movement of the crypto coin was accompanied by the falling trading volume on the corresponding market.
The price action of XDC Network is in a stalemate due to low volatility during the observed period. With the average volatility being as low as 0.71%, XDC was incapable of making any sizable price swings. The peak of the coin's volatility for the given time period was reached on September 19 when this parameter went as low as 1.82%. The price action on the asset's market was the weakest on September 20 when the volatility was at 0.71%, the minimum for the given period of time. The crypto coin's low volatility of 0.71% points to the weakness of all market participants.
The opening price of XDC Network was at $0.03 on September 15, with having a more visible presence on the market. The first day of price action was marked by the 2% move to the downside from the point where the trading session opened. On September 16 the coin market stayed neutral, with no changes in the price. The bulls dominated the price action during the following trading period as the price drifted 3% to the upside, having established the low for the reviewed time frame at $0.025, while the high was recorded at $0.026. On September 18, the value of XDC was in the range, with the market remaining flat. The developments on the XDC Network market on September 19 started with the price opening at $0.03 and subsequently moving to $0.03, the close of the day, while dropping to the 24H low at $0.0252 and spiking to the 24H high at $0.0252. No changes were observed on the crypto coin's market on September 20. Between the 24H high at $0.026 and the 24H low at $0.026, the coin was traded in the $0.03 - $0.03 price corridor. The asset posted the weekly low at $0.025, while the top of the weekly trading session was registered at $0.027. Traders saw XDC Network covering the $0.0006 distance between the weekly low and the weekly high, which constituted for a 2% move.
As for the average trading volume in the time slot between September 15 and September 21, the XDC Network market registered the change from $2 381 112 to $2 655 614. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the XDC market had its volume ranging between $2 301 934 and $3 201 499. The average trading volume of the asset fluctuated by 12% by comparison with the previous period, whereas the price change of 2% took place over the same period of time.
The total capitalization of Bitcoin at the start of the analyzed time period (September 15) amounted to $360 105 699; by the end of that period (September 21), the capitalization went to $354 074 176. When translated to percentage rate, the market capitalization of XDC over the past week adjusted by 2%. While the market capitalization of the coin was altered by 2%, its price has made a 2% change. A more precise analysis of the XDC Network market also requires a comparison with the change in market capitalization from the week before, which amounted to 6% on the back of the move from $338 748 139 to $359 590 691.