November 10 - November 16 market watch: Prosper goes up by 12% as buying pressure persists.
The upward movement of the Prosper price last week indicates the chosen market is bullish. The situation on the PROS market shows that the underlying asset is currently experiencing a period of high volatility. Last week’s market conditions reflected on the market capitalization of the asset, which was rising. 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 Prosper was at 56.43% in concert with its rapid price change. The asset was the most volatile on November 10 when the registered volatility shot up to 56.43%. The volatility of the coin fell to its lowest on November 16 when it slid to 2.7%. The high volatility of 56.43% points to the possibility of unpredictable and violent price action.
The first day of price action was marked by the 51% move to the upside from the point where the trading session opened. The 2% move in the upward direction took place on the second day after the weekly open. The price range of Prosper formed between $1.08 and $1.22 on November 12 as the price traveled 5% up. PROS ’s performance during November 13 was the following: the price declined by 12% in conjunction with the acceptable trading volume. After the open at $1.01, Prosper moved during November 14 in the range between the said open and the close at $1.1, having posted the 24H low at $0.93 and the 24H high at $1.14. The crypto coin opened the trading session on November 15 at $1.08 and finalized it at $1.3; the highest point of price action was at $1.39, the lowest was detected at $1.05. As for the occurrences on November 16, the price of the coin bottomed at $1.17 and peaked at $1.44, while its daily range formed between $1.27 and $1.19. The price action on the asset's market during the period between November 10 and November 16 topped at $1.44, while the bottom of the price range was established at $0.62. The difference between the lowest and the highest price points for the week was 12%, as the price moved in the $0.13 wide corridor.
In the period November 10 - November 16, the trading volume of Prosper went from $1 844 280 on the first day of the reviewed period to $46 578 053 on the closing day. A more comprehensive analysis of PROS price action requires the comparison of the trading volume between November 10 and November 16 with that from the preceding week that demonstrated how the trading volume fluctuated between $1 159 819 and $6 364 799. The 288% trading volume fluctuation between November 10 and November 16, as compared with the previous period, served as a basis for a 12% price move.
The total capitalization of Bitcoin at the start of the analyzed time period (November 10) amounted to $12 086 349; by the end of that period (November 16), the capitalization went to $26 554 172. PROS experienced a 120% change in total market capitalization throughout the past seven days. The said 120% percentage change in market capitalization of the coin was accompanied by the 12% fluctuation in the price of the underlying asset. During the week before the analyzed time frame, the market capitalization of Prosper moved by 24% as it went from $15 466 940 to $19 192 584, and gave a better understanding of the general direction in which this market is flowing.