Slightly bearish : traders witnessed Compound moving down 5% from September 11 till September 17.
Between September 11 - September 17, Compound has been mostly bullish as its price has been in the falling mode. COMP was caught in a period of medium volatility, which was reflected in its price action. The asset saw its market capitalization falling over the reviewed period together with its price. The past week’s price movement of the crypto coin was accompanied by the falling trading volume on the corresponding market.
The price action of Compound has been contained due to modest volatility. The average volatility of 6% was the reason why the price of COMP didn't put up any significant gains. The coin was the most volatile on September 11, when the range of its price fluctuations reached 5.91%. The asset has been the least volatile on September 15; at this time, the volatility stood at 0.11%. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.
The trading session on September 11 started with Compound opening at $53.22 on the backdrop of bullish sentiment throughout the market. During the opening day on September 11, COMP has had a 6% move to the upside. The coin market was down by 4% on September 12, the second day of the reviewed time period. During the next trading day, the rate of change in the price of Compound stood at 1% having reached the low at $52.06 and the high at $56.97 as the advantage remained on the side of sellers. The trading volume on September 14 rendered support to the 2% bearish move of COMP. Compound finalized the trading day of September 15 at $57.03 after opening it at $54.3, though the price broke through that corridor to hit the 24H high at $61.37 and the 24H low at $54.05. No changes were observed on the crypto coin's market on September 16. Most trading activity on September 17 occurred in the space between $56.35 and $53.85; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $53.26, though the bulls had also staged the rally to the 24H high at $56.35. During the reviewed time period, the asset was able to achieve the weekly high at $61.37, though at a certain point, the bear pressurized the price down to the weekly low at $52.06. The price action on the weekly time frame made Compound within the 5% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $2.58.
The past 7 days were marked by a change in average daily trading volume from $34 429 646 on September 11 to $50 649 977 on September 17. During the week before September 11, the trading volume of COMP flowed from $19 005 798 to $34 607 169. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 90%, and the 5% price shift.
The total market capitalization of Compound during the past 7-day oscillated between $372 559 630, the starting point that was established on September 11, and $368 977 721 on September 17, the end date of the reviewed period. 1% was the calculated percentage change for the COMP market over the past week. The 1% change in the coin's market capitalization affected the price rate that saw a 5% shift in the same time period. A more precise analysis of the Compound market also requires a comparison with the change in market capitalization from the week before, which amounted to 10% on the back of the move from $327 235 375 to $360 692 428.