Moonriver exploded by 20% in the period of February 11 - February 17 as the buyers got an upper hand.
The analysis of last week’s price action shows that the Moonriver market is in the bullish phase since the price has been moving upward. The situation on the MOVR market shows that the underlying asset is currently experiencing a period of medium volatility. The asset saw its market capitalization growing over the reviewed period together with its price. The trading volume on the crypto coin's market has been increasing throughout the reviewed period along with its price.
The situation on the Moonriver market allows us to characterise its volatility as mild. The average volatility of 9% was the reason why the price of MOVR didn't put up any significant gains. The largest volatility for the given period occurred on February 11 and amounted to 11.22%. The asset has been the least volatile on February 15; at this time, the volatility stood at 1.25%. The mild volatility registered on the crypto coin's market over the said period allows us to expect moderate price movements in both directions without significant breakouts.
The price of MOVR took a 1% up upswing at the open of the weekly trading period. The 2% move in the upward direction took place on the second day after the weekly open. The bears dominated the price action during the following trading period as the price drifted 9% to the downside, having established the low for the reviewed time frame at $7.97, while the high was recorded at $8.84. The MOVR market was up as the price shifted by 3% on February 14, against the backdrop of the sufficient trading volume. The price range of Moonriver on February 15 formed between $8.49 and $8.78, whereas the daily price extremities were $8.36 and $8.83. The activity on the crypto coin's market on February 16 resulted in the asset being traded between $8.93, the open of the day, and $9.45, the close of the day; at some point, the price spiked to the daily high at $9.45 and briefly dropped to the daily low at $8.93. Most trading activity on February 17 occurred in the space between $9.39 and $10.51; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $8.74, though the bulls had also staged the rally to the 24H high at $10.51. The asset posted the weekly low at $7.97, while the top of the weekly trading session was registered at $10.51. As a result of price action within the designated time period, the price movement range on the Moonriver market was established at $1.74 or 20% between the weekly low and the weekly high.
In the period February 11 - February 17, the trading volume of Moonriver went from $1 203 525 on the first day of the reviewed period to $6 508 721 on the closing day. Over the week that came before the analyzed time span, the average trading volume of MOVR ranged between $2 290 778 and $14 945 663. Percentage-wise, the trading volume of the asset changed by 46%, in comparison to the previous period, while its price experienced a 20% adjustment.
The total market capitalization of Moonriver during the past 7-day oscillated between $54 206 523, the starting point that was established on February 11, and $55 946 585 on February 17, the end date of the reviewed period. When translated to percentage rate, the market capitalization of MOVR over the past week adjusted by 3%. The price of the coin changed by 20% on the back of the 3% 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 $54 546 722 on February 4 and $54 873 361 on February 10, which translates to a 1% change.