The bears had a field day between January 18 and January 24 as Mooncoin got knocked down by 25%.
The analysis of last week’s price action shows that the Mooncoin market is in the phase since the price has been moving downward. The price swings of MOON pointed to the presence of high volatility. The price action on the coin's market translated to the decline of market capitalization. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.
During the reported period, Mooncoin has been swinging for the fences, which resulted in an average volatility of 25% for the given period. The peak of the asset's volatility fell on January 18 after it went all the way to 25%. On January 24, the coin's volatility was at its minimum level of 0%. The high volatility of 25% points to the possibility of unpredictable and violent price action.
There were no gains or losses to the MOON market on January 18, it remained flat. On January 19 the coin market stayed neutral, with no changes in the price. The cautious traders dominated the price action on January 20, with the Mooncoin market remaining flat. The trading volume on January 21 rendered support to the 25% bearish move of MOON. On January 22, Mooncoin finished the trading day with no changes to the flatlined market. No changes were observed on the crypto coin's market on January 23. The coin's market saw no changes on January 24, as the market flatlined. During the reviewed time period, the asset was able to achieve the weekly high at $0.000005, though at a certain point, the bear pressurized the price down to the weekly low at $0.000003. Mooncoin shaped the $0.000001 price range over the week of price action, which constituted the 25% gap between the weekly low and the weekly high.
Mooncoin ’s average trading volume on the opening day of the observed time period, January 18, stood at $31.84, while on the closing day of the same period, it moved to $1.14. In order to have a better grasp of the MOON market, it’s necessary to compare the stats from the analyzed period with those from the week before, when the trading volume had gone from $0.06 to $1.81. The asset demonstrated an 0% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 25%.
The total capitalization of Bitcoin at the start of the analyzed time period (January 18) amounted to $951 658; by the end of that period (January 24), the capitalization went to $632 123. When translated to percentage rate, the market capitalization of MOON over the past week adjusted by 34%. The 34% change in the coin's market capitalization affected the price rate that saw a 25% shift in the same time period. Mooncoin ’s market capitalization from the week before changed by 86%, as the result of fluctuation between $6 825 355 and $951 658, to give a clearer vision of the current state of the market.