Casper Network analysis May 6 - May 12 : bears in all-out attack as the price collapses by 15%.
The price of Casper Network was falling last from May 6 until May 12, giving enough reason to conclude that the market is. The situation on the CSPR market shows that the underlying asset is currently experiencing a period of medium volatility. The price action of the coin has been accompanied by the decreased market capitalization of the said digital asset. The price action of the crypto coin last week took place on the back of decreased trading volume.
The price action of Casper Network has been contained due to modest volatility. Our comprehensive data indicates that the price change of CSPR has been moderate on the back of the average volatility of 11% for the given time period. The coin was the most volatile on May 6, when the range of its price fluctuations reached 12.35%. On May 10, the volatility of the asset was at its minimum at 0.08%. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 11%.
The opening price of Casper Network was at $0.06 on May 6, with having a more visible presence on the market. During the opening day on May 6, CSPR has had a 6% move to the downside. The market sentiment on May 7 stayed as the coin obtained another 3%. During the next trading day, the rate of change in the price of Casper Network stood at 12% having reached the low at $0.051 and the high at $0.059 as the advantage remained on the side of sellers. The CSPR market was down as the price shifted by 1% on May 9, against the backdrop of the sufficient trading volume. After the open at $0.05, Casper Network moved during May 10 in the range between the said open and the close at $0.05, having posted the 24H low at $0.05 and the 24H high at $0.05. The crypto coin opened the trading session on May 11 at $0.05 and finalized it at $0.05; the highest point of price action was at $0.05, the lowest was detected at $0.05. The coin's market saw no changes on May 12, as the market flatlined. The price action on the asset's market during the period between May 6 and May 12 topped at $0.06, while the bottom of the price range was established at $0.05. The price action on the weekly time frame made Casper Network within the 15% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.008.
The past 7 days were marked by a change in average daily trading volume from $15 228 385 on May 6 to $9 919 245 on May 12. We can draw the comparison with the period of 7 days that preceded the reviewed one when CSPR ’s trading volume varied from $10 533 238 to $19 230 025. The 16% change in trading volume in the asset's market, compared to last week, supported the price movement that allowed the cryptocurrency to alter its value by 15%.
The total capitalization of Bitcoin at the start of the analyzed time period (May 6) amounted to $654 690 078; by the end of that period (May 12), the capitalization went to $538 909 513. The rate of percentage change for the last week for CSPR was 18%. While the market capitalization of the coin was altered by 18%, its price has made a 15% change. 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 $601 324 597 on April 29 and $671 352 320 on May 5, which translates to a 12% change.