Coins
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Premia
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2022-09-21

The September 15 - 21 market report: Premia plunges by 12% as sellers apply more pressure.

The behavior of Premia last week was characterized by the occurrence of downswings. The situation on the PREMIA market shows that the underlying asset is currently experiencing a period of medium volatility. The price action on the coin's market translated to the decline of market capitalization. There has been a decline in trading volume on the crypto coin's market in conjunction with the price movement.

The volatility has been suppressed, as the Premia price action suggests. We established that PREMIA didn't showcase any significant price action due to the market's mild average volatility of 10%. The volatility of the coin reached its highest point at 12.28% during the observed period. The asset's volatility was at its lowest on September 19 when it dropped to 2.06%. 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.

While the overall situation on the Premia market was neutral, the trading session on September 15 kicked off at the $1.27 price level. The coin market was down by 4% on September 16, the second day of the reviewed time period. Premia posted the interim low at $1.09 on September 17 and then moved up by 5% and peaked at $1.15. The next trading session was characterized by more price action (as PREMIA made a 12% move) on the back of the consistent trading volume. The developments on the Premia market on September 19 started with the price opening at $1.01 and subsequently moving to $1.03, the close of the day, while dropping to the 24H low at $0.96 and spiking to the 24H high at $0.96. The trading period on September 20 saw the crypto coin forming the price amplitude between the open at $1.04 and the close at $0.98, also interacting with $0.97 (24H low) and $0.97 (24H high). The coin found the deepest trough (24H low) at $0.94 on September 21 and then exploded to the ceiling (24H high) at $1.01; the price range for that day was between $0.98 and $1. $0.94 was the bottom of price action for the week, though the price went to the high extreme at $1.27 over the same time period. Traders saw Premia covering the $0.13 distance between the weekly low and the weekly high, which constituted for a 12% move.

The trading activity on the Premia market over the past week - September 15 to September 21 - generated the average trading volume that went from $570 002 to $641 760. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the PREMIA market had its volume ranging between $612 551 and $1 626 855. The 46% trading volume fluctuation between September 15 and September 21, as compared with the previous period, served as a basis for a 12% price move.

The change in the total market capitalization of Premia from September 15 to September 21 was as follows: on September 15, the capitalization was at $13 433 425, while on September 21, it reached the level of $10 079 110. PREMIA experienced a 25% change in total market capitalization throughout the past seven days. When compared to the price fluctuations during the observed period of time, the 25% market capitalization movement was accompanied by a 12% change in the price of the coin. During the week before the analyzed time frame, the market capitalization of Premia moved by 25% as it went from $18 141 763 to $13 594 839, and gave a better understanding of the general direction in which this market is flowing.

Price
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Article date: September 21 | September 15 - 21

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