XDEFI analysis September 14 - September 20 : bears in all-out attack as the price collapses by 11%.
The price of XDEFI was falling last from September 14 until September 20, giving enough reason to conclude that the market is bearish. The volatility associated with the XDEFI market was low, as were its price fluctuations. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. There has been a decline 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 XDEFI was dictated by low volatility. The data derived from our credible sources shows that the average volatility of XDEFI didn't exceed 2.36%, which is indicative of weak price action. 4.55% was the maximum volatility that the coin managed to showcase on September 18. The quietest period on the asset's market was recorded on September 18, when the volatility dropped to the minimum at 2.36%. The volatility of 2.36% is too low for the crypto coin to engage in any attention-worthy price action.
The trading session on September 14 started with XDEFI opening at $0.14 on the backdrop of bearish sentiment throughout the market. On September 14, the first trading session of the reviewed time period, the market participants saw XDEFI moving down by 2%. The 3% move in the downward direction took place on the second day after the weekly open. During the next trading day, the rate of change in the price of XDEFI stood at 3% having reached the low at $0.126 and the high at $0.13 as the advantage remained on the side of sellers. On September 18, XDEFI market moved by 5% in the bullish direction in concert with the trading volume. The price range of XDEFI on September 18 formed between $0.13 and $0.13, whereas the daily price extremities were $0.13 and $0.13. The crypto coin opened the trading session on September 19 at $0.13 and finalized it at $0.12; the highest point of price action was at $0.13, the lowest was detected at $0.12. On the last day of the reviewed period, the coin was locked between $0.12 and $0.12, though the price managed to puncture these levels to reach the 24H high at $0.13 and the 24H low at $0.12. The price action on the asset's market during the period between September 14 and September 20 topped at $0.14, while the bottom of the price range was established at $0.12. As a result of price action within the designated time period, the price movement range on the XDEFI market was established at $0.01 or 11% between the weekly low and the weekly high.
In the period September 14 - September 20, the trading volume of XDEFI went from $124 754 on the first day of the reviewed period to $238 079 on the closing day. We can draw the comparison with the period of 7 days that preceded the reviewed one when XDEFI ’s trading volume varied from $74 128 to $292 141. The asset demonstrated an 5% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 11%.
The change in the total market capitalization of XDEFI from September 14 to September 20 was as follows: on September 14, the capitalization was at $9 628 041, while on September 20, it reached the level of $8 953 208. 7% was the calculated percentage change for the XDEFI market over the past week. The 7% change in the coin's market capitalization affected the price rate that saw a 11% shift in the same time period. The comparison with the XDEFI market capitalization seen during the time period September 7 - September 13 that occurred before the observed one, which changed by 3%, from $10 591 328 to $10 293 033, allows us to get a clearer understanding of current market conditions.