Market analysis November 16 - November 22 : Phoenix Global posts a 49% rally.
The bullish behavior of Phoenix Global last week was characterized by the occurrence of upswings. PHB has been going through a period of high volatility, which fell in line with the occurred price changes. The market capitalization of the asset has been increasing in concert with the price of the coin. The past week’s price movement of the crypto coin was accompanied by the growing trading volume on the corresponding market.
We have established that the average volatility of Phoenix Global was at 108.87% in concert with its rapid price change. The peak of the asset's volatility fell on November 16 after it went all the way to 108.87%. The coin saw its volatility drop to a minimum at 0.82% on November 22. The present volatility of 108.87% is indicative of unstable market conditions.
Phoenix Global began the day on November 16 at $0.36, while the broad background was bullish. The first day of price action was marked by the 15% move to the upside from the point where the trading session opened. On November 17, the price of the coin has shifted by 4% from the daily open on the back of a good trading volume. Phoenix Global posted the interim low at $0.4 on November 18 and then moved down by 4% and peaked at $0.44. On November 19, the value of PHB was in the range, with the market remaining flat. The developments on the Phoenix Global market on November 20 started with the price opening at $0.42 and subsequently moving to $0.86, the close of the day, while dropping to the 24H low at $0.42 and spiking to the 24H high at $0.42. The trading period on November 21 saw the crypto coin forming the price amplitude between the open at $0.91 and the close at $0.62, also interacting with $0.54 (24H low) and $0.54 (24H high). November 22 presented us with the following price action data: the coin opened the period at $0.63 and went on to establish the low at $0.61 and the high of the day at $0.73 before closing the day at $0.62. The price action on the asset's market during the period between November 16 and November 22 topped at $1.13, while the bottom of the price range was established at $0.35. Phoenix Global shaped the $0.2 price range over the week of price action, which constituted the 49% gap between the weekly low and the weekly high.
Phoenix Global ’s average trading volume on the opening day of the observed time period, November 16, stood at $3 480 386, while on the closing day of the same period, it moved to $64 838 462. Over the week that came before the analyzed time span, the average trading volume of PHB ranged between $1 576 733 and $7 662 489. The asset demonstrated an 1382% change in trading volume, when compared against its performance in the past 7 days, while its price fluctuated by 49%.
The total market capitalization of Phoenix Global during the past 7-day oscillated between $13 230 148, the starting point that was established on November 16, and $25 153 636 on November 22, the end date of the reviewed period. Percentage-wise, the market capitalization of PHB has shifted by 90% in the past week. The 90% change in the coin's market capitalization affected the price rate that saw a 49% shift in the same time period. During the week before the analyzed time frame, the market capitalization of Phoenix Global moved by 12% as it went from $15 192 820 to $13 356 982, and gave a better understanding of the general direction in which this market is flowing.