Market analysis April 25 - May 1 : Casper Network posts a 15% rally.
Between April 25 - May 1, Casper Network has been mostly bullish as its price has been in the rising mode. The situation on the CSPR market shows that the underlying asset is currently experiencing a period of medium volatility. 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.
The volatility has been suppressed, as the Casper Network price action suggests. The market analysis reveals that the mild average volatility of 8% restrained CSPR 's price swings. The coin has hit the highest point of volatility on April 25. On April 29, the volatility of the asset was at its minimum at 1.26%. Due to the fact that the crypto coin has been modestly volatile, the market is unlikely to demonstrate any aggressive price swings.
On April 25, the Casper Network market opened at $0.05, preceded by a period of bullish action. CSPR made a 2% step in an upward direction during the first daily trading session that took place on April 25. April 26 saw the coin going another 11% since the open, supported by the corresponding trading volume. On April 27, the market was moving to the upside as Casper Network went 2% up from the low at $0.053 to the high at $0.056. Over the next trading period (on April 28), CSPR was moving down by 2% on the back of a congruous trading volume. Casper Network finalized the trading day of April 29 at $0.06 after opening it at $0.05, though the price broke through that corridor to hit the 24H high at $0.056 and the 24H low at $0.053. While the 24H high and low on April 30 were at $0.06 and $0.057, respectively, the crypto coin had been traded in the area between the open at $0.06 and the close at $0.06. The coin found the deepest trough (24H low) at $0.06 on May 1 and then exploded to the ceiling (24H high) at $0.06; the price range for that day was between $0.06 and $0.06. The highest point of the price action over the week was at $0.06 - the weekly low during the same period was established at $0.05. Traders saw Casper Network covering the $0.007 distance between the weekly low and the weekly high, which constituted for a 15% move.
Over the period of the last 7 days, April 25 to May 1, Casper Network saw its average trading volume fluctuate between $11 193 416 and $19 061 866. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the CSPR market had its volume ranging between $10 428 143 and $20 378 285. The asset demonstrated an 7% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 15%.
The past week saw the market capitalization of Casper Network making a shift from $549 779 728 on April 25 to $696 204 589 on May 1, the peak for the analyzed period. CSPR experienced a 27% change in total market capitalization throughout the past seven days. While the market capitalization of the coin was altered by 27%, its price has made a 15% change. The comparison with the Casper Network market capitalization seen during the time period April 18 - April 24 that occurred before the observed one, which changed by 8%, from $597 337 693 to $550 922 331, allows us to get a clearer understanding of current market conditions.