Buyers weakened their grip on the RAI Finance market (September 16 - September 22) as the price rose only by 1%.
The analysis of last week’s price action shows that the RAI Finance market is in the bullish phase since the price has been moving upward. SOFI was caught in a period of medium volatility, which was reflected in its price action. Last week’s market conditions reflected on the market capitalization of the asset, which was rising. There has been a growth in trading volume on the crypto coin's market in conjunction with the price movement.
The situation on the RAI Finance market allows us to characterise its volatility as mild. The average volatility of 14% was the reason why the price of SOFI didn't put up any significant gains. The largest volatility for the given period occurred on September 16 and amounted to 16.14%. The price of the asset had fluctuated the least on September 20, when the volatility plummeted to 0.54%. The crypto coin's market didn't put up any surprises due to mild average volatility of 14%.
The opening price of RAI Finance was at $0.14 on September 16, with buyers having a more visible presence on the market. The gains of SOFI after the weekly open on September 16 amounted to 19%. The 3% move in the downward direction took place on the second day after the weekly open. During the following trading period on September 18, the price of RAI Finance oscillated between the low at $0.16 and the high at $0.16, while the price moved up by 1%. The next trading session was characterized by more bullish price action (as SOFI made a 3% move) on the back of the consistent trading volume. The developments on the RAI Finance market on September 20 started with the price opening at $0.16 and subsequently moving to $0.18, the close of the day, while dropping to the 24H low at $0.16 and spiking to the 24H high at $0.16. On September 21, the crypto coin showcased the following price fluctuations: the trading session began at $0.19 and then traveled from the low of the day at $0.18 to the high of the day at $0.21, closing at $0.2. As for the occurrences on September 22, the price of the coin bottomed at $0.16 and peaked at $0.2, while its daily range formed between $0.2 and $0.16. During the reviewed time period, the asset was able to achieve the weekly high at $0.21, though at a certain point, the bear pressurized the price down to the weekly low at $0.14. The price action on the weekly time frame made RAI Finance within the 1% range from its weekly low to the weekly high, while the oscillation amplitude between these price points amounted to $0.002.
In the period September 16 - September 22, the trading volume of RAI Finance went from $950 498 on the first day of the reviewed period to $6 443 366 on the closing day. To understand a bigger picture, we need to match the numbers from last week with the week before that, when the SOFI market had its volume ranging between $235 715 and $1 080 037. The average trading volume of the asset fluctuated by 238% by comparison with the previous period, whereas the price change of 1% took place over the same period of time.
Bitcoin began the observed period September 16 - September 22, with the market capitalization of $45 532 321 and finalized it at the market capitalization level of $51 450 968. The percentage change in the total market capitalization of SOFI amounted to 13%. While the market capitalization of the coin was altered by 13%, its price has made a 1% change. The comparison with the RAI Finance market capitalization seen during the time period September 9 - September 15 that occurred before the observed one, which changed by 6%, from $46 039 248 to $43 142 224, allows us to get a clearer understanding of current market conditions.