The bulls muster more strength as Moonriver rises by 21% from March 11 to March 17.
Moonriver has been last week as its price has been predominantly rising. MOVR was caught in a period of medium volatility, which was reflected in its price action. The price action of the coin has been accompanied by the increased market capitalization of the said digital asset. The price action of the crypto coin last week took place on the back of increased trading volume.
The price action of Moonriver has been contained due to modest volatility. We established that MOVR didn't showcase any significant price action due to the market's mild average volatility of 6%. The highest point of the coin's volatility reached 9% in the analyzed time frame. The asset saw its volatility drop to the lowest level for the given period on March 15 as it shrank to 2.9%. Since the volatility of 6% can be deemed as mild, the crypto coin's market can be characterised as composed.
The were dictating the terms on the Moonriver market on March 11 - the trading session opened at $7.65. During the opening day on March 11, MOVR has had a 4% move to the downside. On March 12, the price of the coin has shifted by 6% from the daily open on the back of a good trading volume. Moonriver posted the interim low at $7.67 on March 13 and then moved up by 11% and peaked at $8.48. The MOVR market was up as the price shifted by 4% on March 14, against the backdrop of the sufficient trading volume. The price range of Moonriver on March 15 formed between $8.69 and $8.09, whereas the daily price extremities were $8 and $8.69. While the 24H high and low on March 16 were at $8.41 and $7.83, respectively, the crypto coin had been traded in the area between the open at $8.06 and the close at $8.4. Between the 24H high at $9.16 and the 24H low at $8.43, the coin was traded in the $8.43 - $8.91 price corridor. The highest point of the price action over the week was at $9.16 - the weekly low during the same period was established at $7.27. The difference between the lowest and the highest price points for the week was 21%, as the price moved in the $1.55 wide corridor.
In the period March 11 - March 17, the trading volume of Moonriver went from $4 536 377 on the first day of the reviewed period to $3 935 833 on the closing day. Over the week that came before the analyzed time span, the average trading volume of MOVR ranged between $1 272 416 and $3 647 323. The average trading volume of the asset fluctuated by 26% by comparison with the previous period, whereas the price change of 21% took place over the same period of time.
Moonriver had its total market capitalization change from $51 762 179 on March 11 to $57 489 244 on March 17, the end of the examined time frame. 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 21% shift in the same time period. A more precise analysis of the Moonriver market also requires a comparison with the change in market capitalization from the week before, which amounted to 13% on the back of the move from $59 671 552 to $51 799 376.