Slightly bearish : traders witnessed XDC Network moving down 2% from October 26 till November 1.
Between October 26 - November 1, XDC Network has been mostly as its price has been in the falling mode. XDC was caught in a period of low volatility, which was reflected in its price action. Last week’s market conditions reflected on the market capitalization of the asset, which was rising. There has been a growth in trading volume on the crypto coin's market in conjunction with the price movement.
According to our market analysis, the weak price movement of XDC Network was dictated by low volatility. The average volatility of XDC was as low as 0.04%, causing the dull price action. The peak of the coin's volatility for the given time period was reached on October 30 when this parameter went as low as 2.94%. The quietest period on the asset's market was recorded on October 30, when the volatility dropped to the minimum at 0.04%. Since the current volatility of the crypto coin is low, we expect the price fluctuations of the digital asset at hand to be insignificant.
While the overall situation on the XDC Network market was neutral, the trading session on October 26 kicked off at the $0.03 price level. On October 26, the first trading session of the reviewed time period, the market participants saw XDC moving up by 2%. The price action of the coin remained bullish on October 27 as the bulls pushed the price up by 2%. XDC Network posted the interim low at $0.0311 on October 28 and then moved down by 1% and peaked at $0.032. The next trading session was characterized by more price action (as XDC made a 2% move) on the back of the consistent trading volume. The developments on the XDC Network market on October 30 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 $0.0312 and spiking to the 24H high at $0.0312. While the 24H high and low on October 31 were at $0.032 and $0.031, respectively, the crypto coin had been traded in the area between the open at $0.03 and the close at $0.03. The coin found the deepest trough (24H low) at $0.031 on November 1 and then exploded to the ceiling (24H high) at $0.032; the price range for that day was between $0.03 and $0.03. The highest point of the price action over the week was at $0.032 - the weekly low during the same period was established at $0.031. Traders saw XDC Network covering the $0.0006 distance between the weekly low and the weekly high, which constituted for a 2% move.
Over the period of the last 7 days, October 26 to November 1, XDC Network saw its average trading volume fluctuate between $3 283 439 and $2 989 155. 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 $3 135 045 and $4 137 773. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 4%, and the 2% price shift.
The past week saw the market capitalization of XDC Network making a shift from $425 250 262 on October 26 to $429 896 715 on November 1, the peak for the analyzed period. XDC experienced a 1% change in total market capitalization throughout the past seven days. While the market capitalization of the coin was altered by 1%, its price has made a 2% change. XDC Network ’s market capitalization from the week before changed by 1%, as the result of fluctuation between $425 519 072 and $425 250 262, to give a clearer vision of the current state of the market.