February 15 - February 21 market watch: Moonriver goes up by 24% as buying pressure persists.
The upward movement of the Moonriver price last week indicates the chosen market is bullish. The volatility of MOVR has been medium throughout the reviewed period in correspondence with the price action. Last week’s market conditions reflected on the market capitalization of the asset, which was rising. The price action of the crypto coin last week took place on the back of increased trading volume.
While the volatility remains restrained, Moonriver isn't making any explosive moves. Given that the average volatility on the MOVR market didn't exceed 9%, the price action remained limited. The volatility of the coin reached its highest point at 11.23% during the observed period. The asset saw its volatility drop to the lowest level for the given period on February 19 as it shrank to 1.88%. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.
The price of MOVR took a 3% up upswing at the open of the weekly trading period. The 6% move in the upward direction took place on the second day after the weekly open. During the next trading day, the rate of change in the price of Moonriver stood at 12% having reached the low at $8.74 and the high at $10.51 as the advantage remained on the side of buyers. The trading volume on February 18 rendered support to the 12% bullish move of MOVR. February 19 kicked off with Moonriver trading opening at $11.66 and then closing the session at $11.15, establishing the 24H low at $11.05 and 24H high at $11.66 in the process. The activity on the crypto coin's market on February 20 resulted in the asset being traded between $11.03, the open of the day, and $11.36, the close of the day; at some point, the price spiked to the daily high at $11.68 and briefly dropped to the daily low at $10.77. Between the 24H high at $11.68 and the 24H low at $10.66, the coin was traded in the $11.4 - $10.89 price corridor. Over the course of all trading sessions, the asset established the weekly low at $8.36 while buyers managed to push the price up to the weekly high at $12.71. The difference between the lowest and the highest price points for the week was 24%, as the price moved in the $2.11 wide corridor.
The past 7 days were marked by a change in average daily trading volume from $2 586 410 on February 15 to $10 174 216 on February 21. In order to have a better grasp of the MOVR 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 $1 203 525 to $14 945 663. Percentage-wise, the trading volume of the asset changed by 209%, in comparison to the previous period, while its price experienced a 24% adjustment.
The change in the total market capitalization of Moonriver from February 15 to February 21 was as follows: on February 15, the capitalization was at $53 523 374, while on February 21, it reached the level of $73 372 658. The percentage change in the total market capitalization of MOVR amounted to 37%. As a consequence of the 37% fluctuation in its market capitalization, the price of the coin changed by 24%. Moonriver ’s market capitalization from the week before changed by 12%, as the result of fluctuation between $58 854 208 and $53 523 374, to give a clearer vision of the current state of the market.