Moonriver retraces by 5% in the period March 7 - March 13 as the market turns slightly bearish.
The downward movement of the Moonriver price last week indicates the chosen market is. MOVR was caught in a period of medium volatility, which was reflected in its price action. Last week’s market conditions reflected on the market capitalization of the asset, which was falling. The trading volume on the crypto coin's market has been decreasing throughout the reviewed period along with its price.
The volatility has been suppressed, as the Moonriver price action suggests. We established that MOVR didn't showcase any significant price action due to the market's mild average volatility of 6%. The volatility of the coin reached its highest point at 9% during the observed period. The asset has been the least volatile on March 11; at this time, the volatility stood at 2.39%. The mild volatility during the period of review allowed the price of the crypto coin to remain stable and predictable.
While the overall situation on the Moonriver market was neutral, the trading session on March 7 kicked off at the $9.09 price level. The losses of MOVR after the weekly open on March 7 amounted to 2%. March 8 saw the coin going another 6% since the open, supported by the corresponding trading volume. During the following trading period on March 9, the price of Moonriver oscillated between the low at $8.16 and the high at $8.44, while the price moved down by 3%. On March 11, MOVR market moved by 6% in the bearish direction in concert with the trading volume. After the open at $7.65, Moonriver moved during March 11 in the range between the said open and the close at $7.36, having posted the 24H low at $7.27 and the 24H high at $7.93. The price action on March 12 saw the crypto coin moving along the following route: starting point at $7.33 and closing point at $7.78, while it also deviated to establish the high of the day at $7.78 and the low of the day at $7.33. As for the occurrences on March 13, the price of the coin bottomed at $7.67 and peaked at $8.48, while its daily range formed between $7.67 and $8.48. The asset posted the weekly low at $7.17, while the top of the weekly trading session was registered at $9.13. The difference between the lowest and the highest price points for the week was 5%, as the price moved in the $0.43 wide corridor.
The trading activity on the Moonriver market over the past week - March 7 to March 13 - generated the average trading volume that went from $2 237 481 to $801 369. During the week before March 7, the trading volume of MOVR flowed from $982 501 to $3 010 482. The asset demonstrated an 26% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 5%.
The change in the total market capitalization of Moonriver from March 7 to March 13 was as follows: on March 7, the capitalization was at $60 032 358, while on March 13, it reached the level of $53 394 409. MOVR experienced a 11% change in total market capitalization throughout the past seven days. The 11% change in the coin's market capitalization affected the price rate that saw a 5% shift in the same time period. Moonriver ’s market capitalization from the week before changed by 8%, as the result of fluctuation between $65 538 207 and $60 032 358, to give a clearer vision of the current state of the market.