Casper Network analysis May 5 - May 11 : bears in all-out attack as the price collapses by 20%.
The price of Casper Network was falling last from May 5 until May 11, giving enough reason to conclude that the market is. The price swings of CSPR pointed to the presence of medium volatility. The price action on the coin's market translated to the decline of market capitalization. The price action of the crypto coin last week took place on the back of decreased trading volume.
While the volatility remains restrained, Casper Network isn't making any explosive moves. The average volatility of 11% was the reason why the price of CSPR didn't put up any significant gains. The largest volatility for the given period occurred on May 5 and amounted to 12.35%. The price of the asset had fluctuated the least on May 9, when the volatility plummeted to 0.1%. Since the volatility of 11% can be deemed as mild, the crypto coin's market can be characterised as composed.
There were no gains or losses to the CSPR market on May 5, it remained flat. The market sentiment on May 6 stayed bearish as the coin obtained another 6%. Casper Network posted the interim low at $0.056 on May 7 and then moved up by 3% and peaked at $0.059. CSPR ’s performance during May 8 was the following: the price declined by 12% in conjunction with the acceptable trading volume. The developments on the Casper Network market on May 9 started with the price opening at $0.05 and subsequently moving to $0.05, the close of the day, while dropping to the 24H low at $0.051 and spiking to the 24H high at $0.051. The price action on May 10 saw the crypto coin moving along the following route: starting point at $0.05 and closing point at $0.05, while it also deviated to establish the high of the day at $0.05 and the low of the day at $0.05. Most trading activity on May 11 occurred in the space between $0.05 and $0.05; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $0.05, though the bulls had also staged the rally to the 24H high at $0.05. 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. Casper Network bounced 20% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.01.
In the period May 5 - May 11, the trading volume of Casper Network went from $13 359 015 on the first day of the reviewed period to $12 290 352 on the closing day. 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 $10 533 238 and $19 230 025. Percentage-wise, the trading volume of the asset changed by 14%, in comparison to the previous period, while its price experienced a 20% adjustment.
The change in the total market capitalization of Casper Network from May 5 to May 11 was as follows: on May 5, the capitalization was at $671 352 320, while on May 11, it reached the level of $574 008 979. When translated to percentage rate, the market capitalization of CSPR over the past week adjusted by 14%. The price of the coin changed by 20% on the back of the 14% shift in its total market capitalization. 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 $607 954 360 on April 28 and $657 849 027 on May 4, which translates to a 8% change.