The market crumbled last week (September 16 - September 22) as Premia lost 20%.

The analysis of last week’s price action shows that the Premia market is in the phase since the price has been moving downward. The situation on the PREMIA market shows that the underlying asset is currently experiencing a period of medium volatility. There has been a fall in the market capitalization of the asset during the period under review. The past week’s price movement of the crypto coin was accompanied by the falling trading volume on the corresponding market.

The situation on the Premia market allows us to characterise its volatility as mild. The average volatility of 11% was the reason why the price of PREMIA didn't put up any significant gains. The highest point of the coin's volatility reached 13.67% in the analyzed time frame. The asset's volatility was at its lowest on September 20 when it dropped to 2.06%. The crypto coin's market didn't put up any surprises due to mild average volatility of 11%.

On September 16, the Premia market opened at $1.13, preceded by a period of neutral action. The losses of PREMIA after the weekly open on September 16 amounted to 4%. The 5% move in the upward direction took place on the second day after the weekly open. Premia posted the interim low at $1 on September 18 and then moved down by 12% and peaked at $1.16. Over the next trading period (on September 19), PREMIA was moving up by 2% on the back of a congruous trading volume. The developments on the Premia market on September 20 started with the price opening at $1.04 and subsequently moving to $0.98, the close of the day, while dropping to the 24H low at $0.97 and spiking to the 24H high at $0.97. While the 24H high and low on September 21 were at $1.01 and $0.94, respectively, the crypto coin had been traded in the area between the open at $0.98 and the close at $1. As for the occurrences on September 22, the price of the coin bottomed at $0.84 and peaked at $0.96, while its daily range formed between $0.96 and $0.86. $0.84 was the bottom of price action for the week, though the price went to the high extreme at $1.16 over the same time period. As a result of price action within the designated time period, the price movement range on the Premia market was established at $0.22 or 20% between the weekly low and the weekly high.

In the period September 16 - September 22, the trading volume of Premia went from $510 733 on the first day of the reviewed period to $435 861 on the closing day. We can draw the comparison with the period of 7 days that preceded the reviewed one when PREMIA ’s trading volume varied from $570 002 to $1 585 151. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 39%, and the 20% price shift.

The change in the total market capitalization of Premia from September 16 to September 22 was as follows: on September 16, the capitalization was at $11 617 845, while on September 22, it reached the level of $9 068 050. Percentage-wise, the market capitalization of PREMIA has shifted by 22% in the past week. The 22% change in the coin's market capitalization affected the price rate that saw a 20% shift in the same time period. In order to get a better grasp of the current state of affairs on the market, it’s important to draw the comparison between the reviewed period and the preceding seven days when the market capitalization ranged between $17 172 555 on September 9 and $13 433 425 on September 15, which translates to a 22% change.

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Article date: September 22 | September 16 - 22

Market reviews for similar coins for September 16 - 22