The bleeding market: Divi loses 10% between September 16 and September 22 as the selling pressure grows.
Divi has been bullish last week as its price has been predominantly falling. The price swings of DIVI pointed to the presence of medium volatility. The asset saw its market capitalization growing over the reviewed period together with its price. There has been a growth in trading volume on the crypto coin's market in conjunction with the price movement.
Divi has been moving reservedly on the backdrop of average volatility. Our comprehensive data indicates that the price change of DIVI has been moderate on the back of the average volatility of 19% for the given time period. The coin has hit the highest point of volatility on September 16. The price of the asset had fluctuated the least on September 20, when the volatility plummeted to 2.35%. Since the volatility of 19% can be deemed as mild, the crypto coin's market can be characterised as composed.
While the overall situation on the Divi market was bullish, the trading session on September 16 kicked off at the $0.02 price level. The gains of DIVI after the weekly open on September 16 amounted to 24%. The price action of the coin remained on September 17 as the pushed the price down by 5%. The bulls dominated the price action during the following trading period as the price drifted 2% to the upside, having established the low for the reviewed time frame at $0.024, while the high was recorded at $0.025. DIVI ’s performance during September 19 was the following: the price declined by 9% in conjunction with the acceptable trading volume. Divi finalized the trading day of September 20 at $0.02 after opening it at $0.02, though the price broke through that corridor to hit the 24H high at $0.025 and the 24H low at $0.024. The trading period on September 21 saw the crypto coin forming the price amplitude between the open at $0.02 and the close at $0.02, also interacting with $0.022 (24H low) and $0.022 (24H high). Between the 24H high at $0.023 and the 24H low at $0.021, the coin was traded in the $0.02 - $0.02 price corridor. During the reviewed time period, the asset was able to achieve the weekly high at $0.028, though at a certain point, the bear pressurized the price down to the weekly low at $0.02. Traders saw Divi covering the $0.003 distance between the weekly low and the weekly high, which constituted for a 10% move.
The trading activity on the Divi market over the past week - September 16 to September 22 - generated the average trading volume that went from $198 074 to $219 625. We can draw the comparison with the period of 7 days that preceded the reviewed one when DIVI ’s trading volume varied from $146 096 to $476 440. The asset demonstrated an 15% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 10%.
The total market capitalization of Divi during the past 7-day oscillated between $63 109 797, the starting point that was established on September 16, and $66 408 831 on September 22, the end date of the reviewed period. When translated to percentage rate, the market capitalization of DIVI over the past week adjusted by 5%. When compared to the price fluctuations during the observed period of time, the 5% market capitalization movement was accompanied by a 10% change in the price of the coin. The comparison with the Divi market capitalization seen during the time period September 9 - September 15 that occurred before the observed one, which changed by 34%, from $45 031 555 to $60 163 372, allows us to get a clearer understanding of current market conditions.