The capitulation of March 1 - March 7 : Flow experienced a 14% dive.
Flow has been bearish last week as its price has been predominantly falling. The volatility associated with the FLOW market was medium, as were its price fluctuations. 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 situation on the Flow market allows us to characterise its volatility as mild. Given that the average volatility on the FLOW market didn't exceed 6%, the price action remained limited. The coin has hit the highest point of volatility on March 1. The asset saw its volatility drop to the lowest level for the given period on March 5 as it shrank to 0%. The bulls and the bears appear to be remaining in deadlock as the average volatility of the crypto coin was no higher than 6%.
The price of FLOW took a 1% down downswing at the open of the weekly trading period. The market sentiment on March 2 stayed bearish as the coin obtained another 3%. During the next trading day, the rate of change in the price of Flow stood at 6% having reached the low at $1.05 and the high at $1.15 as the advantage remained on the side of sellers. Over the next trading period (on March 4), FLOW was moving down by 1% on the back of a congruous trading volume. The price oscillation of Flow on March 5 was in the $1.04 - $1.06 range; at the same time, the price stretched out to reach the 24H low at $1.03 and the 24H high at $1.08. No changes were observed on the crypto coin's market on March 6. Most trading activity on March 7 occurred in the space between $1.05 and $1.01; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $1.01, though the bulls had also staged the rally to the 24H high at $1.07. The highest point of the price action over the week was at $1.21 - the weekly low during the same period was established at $1.01. Flow bounced 14% between the low of the week and the peak price for the same time period, ultimately creating a price range of $0.17.
Flow ’s average trading volume on the opening day of the observed time period, March 1, stood at $19 339 116, while on the closing day of the same period, it moved to $23 270 031. Over the week that came before the analyzed time span, the average trading volume of FLOW ranged between $33 620 233 and $102 859 460. The 67% 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 14%.
The total market capitalization of Flow during the past 7-day oscillated between $1 198 459 249, the starting point that was established on March 1, and $1 090 883 892 on March 7, the end date of the reviewed period. Percentage-wise, the market capitalization of FLOW has shifted by 9% in the past week. The price of the coin changed by 14% on the back of the 9% 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 $1 356 734 465 on February 22 and $1 254 466 112 on February 28, which translates to a 8% change.