XDC Network lost 6% in the period November 9 - November 15 as a result of selling pressure.
The analysis of last week’s price action shows that the XDC Network market is in the bearish phase since the price has been moving downward. XDC was caught in a period of medium volatility, which was reflected in its price action. Last week’s market conditions reflected on the market capitalization of the asset, which was falling. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.
The situation on the XDC Network market allows us to characterise its volatility as mild. The market analysis reveals that the mild average volatility of 5% restrained XDC 's price swings. The coin was the most volatile on November 9, when the range of its price fluctuations reached 5.84%. The asset's volatility was at its lowest on November 13 when it dropped to 0.91%. Due to the fact that the crypto coin has been modestly volatile, the market is unlikely to demonstrate any aggressive price swings.
The bears were dictating the terms on the XDC Network market on November 9 - the trading session opened at $0.03. During the opening day on November 9, XDC has had a 3% move to the downside. The coin market was down by 1% on November 10, the second day of the reviewed time period. The bears dominated the price action during the following trading period as the price drifted 2% to the downside, having established the low for the reviewed time frame at $0.026, while the high was recorded at $0.028. The XDC market was down as the price shifted by 4% on November 12, against the backdrop of the sufficient trading volume. XDC Network finalized the trading day of November 13 at $0.03 after opening it at $0.03, though the price broke through that corridor to hit the 24H high at $0.026 and the 24H low at $0.025. The price action on November 14 saw the crypto coin moving along the following route: starting point at $0.03 and closing point at $0.02, while it also deviated to establish the high of the day at $0.025 and the low of the day at $0.024. The coin found the deepest trough (24H low) at $0.025 on November 15 and then exploded to the ceiling (24H high) at $0.026; the price range for that day was between $0.02 and $0.03. During the reviewed time period, the asset was able to achieve the weekly high at $0.029, though at a certain point, the bear pressurized the price down to the weekly low at $0.024. Traders saw XDC Network covering the $0.002 distance between the weekly low and the weekly high, which constituted for a 6% move.
In the period November 9 - November 15, the trading volume of XDC Network went from $4 057 758 on the first day of the reviewed period to $3 541 504 on the closing day. A more comprehensive analysis of XDC price action requires the comparison of the trading volume between November 9 and November 15 with that from the preceding week that demonstrated how the trading volume fluctuated between $2 447 265 and $3 464 629. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 27%, and the 6% price shift.
Bitcoin began the observed period November 9 - November 15, with the market capitalization of $390 224 744 and finalized it at the market capitalization level of $344 443 221. The percentage change in the total market capitalization of XDC amounted to 12%. As a consequence of the 12% fluctuation in its market capitalization, the price of the coin changed by 6%. 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 $424 539 623 on November 2 and $422 467 205 on November 8, which translates to a 0% change.