February 23 - March 1 market wrap: Flow had a slight 3% drop.
Between February 23 - March 1, Flow has been mostly as its price has been in the falling mode. The volatility associated with the FLOW market was low, as were its price fluctuations. The market capitalization of the asset has been decreasing in concert with the price of the coin. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.
According to our market analysis, the weak price movement of Flow was dictated by low volatility. The average volatility of FLOW was as low as 0%, causing the dull price action. Despite the overall weak performance, the volatility of the coin had its highest point at 4.09%. The price action on the asset's market was the weakest on February 28 when the volatility was at 0%, the minimum for the given period of time. The low volatility of 0% means that the crypto coin is weak and incapable of any sizable price swings.
The first day of price action was marked by the 2% move to the upside from the point where the trading session opened. The 4% move in the downward direction took place on the second day after the weekly open. During the following trading period on February 25, the price of Flow oscillated between the low at $1.16 and the high at $1.25, while the price moved up by 3%. The trading volume on February 26 rendered support to the 2% bullish move of FLOW. After the open at $1.22, Flow moved during February 27 in the range between the said open and the close at $1.2, having posted the 24H low at $1.19 and the 24H high at $1.24. No changes were observed on the crypto coin's market on February 28. Most trading activity on March 1 occurred in the space between $1.19 and $1.18; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $1.15, though the bulls had also staged the rally to the 24H high at $1.2. The price action on the asset's market during the period between February 23 and March 1 topped at $1.29, while the bottom of the price range was established at $1.15. As a result of price action within the designated time period, the price movement range on the Flow market was established at $0.04 or 3% between the weekly low and the weekly high.
As for the average trading volume in the time slot between February 23 and March 1, the Flow market registered the change from $97 927 674 to $19 339 116. We can draw the comparison with the period of 7 days that preceded the reviewed one when FLOW ’s trading volume varied from $62 588 468 to $196 858 284. The 58% trading volume fluctuation between February 23 and March 1, as compared with the previous period, served as a basis for a 3% price move.
The total capitalization of Bitcoin at the start of the analyzed time period (February 23) amounted to $1 290 726 774; by the end of that period (March 1), the capitalization went to $1 198 459 249. The rate of percentage change for the last week for FLOW was 7%. When compared to the price fluctuations during the observed period of time, the 7% market capitalization movement was accompanied by a 3% change in the price of the coin. 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 $1 196 910 885 on February 16 and $1 356 734 465 on February 22, which translates to a 13% change.