Explain this websocket ticker data please

Question

I've looked at various websocket feeds from crpyto exchanges and they in general are like this

{
  "jsonrpc": "2.0",
  "method": "ticker",
  "params": {
    "ask": "0.054464",
    "bid": "0.054463",
    "last": "0.054463",
    "open": "0.057133",
    "low": "0.053615",
    "high": "0.057559",
    "volume": "33068.346",
    "volumeQuote": "1832.687530809",
    "timestamp": "2017-10-19T15:45:44.941Z",
    "symbol": "ETHBTC"
  }
}

As i understand a ticket is a feed on every price change.. so sure enough the wss feed streams updates for the coin pair as the price changes.

What is not clear is what do the open, high, low, last fields represent ? The open of what ? Since the previous price change just milliseconds ago ?

Can someone explain wither from a polled REST feed or streamed websocket feed what these numbers are really referring to please given the gap bet between received data is so short ?

Answer 1

open is the price at which a security first trades upon the opening of an exchange on a given trading day; for example, the New York Stock Exchange opens at precisely 9:30 a.m. Eastern.

High the highest value within 24 hours.

Low the lowest value of 24 hours.

Last as the price gets update upon live trades so, last is the last trade price. for example, if I've sold my bitcoins for 11,000 so last will be 11,000