BOSS Wallet data source, Bitcoin Cash BCH current price trend, BCH Bitcoin Cash latest price breaks to $515.9, an increase of 3.53%, trading volume $462 million

The candlestick chart shows that there is currently a volatile trend. Compared to 11:00, there is a significant increase, and there has been a recovery since 07:00, breaking through the 12:00 high. The price is rising but trading volume is declining, which usually indicates that the upward momentum of the market is weakening and the number of buyers is decreasing.
This phenomenon of volume-price divergence may be due to insufficient selling pressure. In this case, future prices may retrace or consolidate sideways. Due to the lack of trading volume support, price increases may be difficult to sustain, and investors should be cautious of the risk of price declines at high levels.
It is recommended to pay attention to whether the trading volume can keep up with the price increase and whether new buying pressure is entering. Overbought condition, decreasing trading volume, rising prices. The Williams indicator shows that it is currently in an overbought state. Recently, trading volume has decreased, trading volume has decreased compared to the previous few hours, and prices are rising while trading volume is declining: upward momentum is weakening.

The market may retrace, it is recommended to wait and see, paying attention to changes in trading volume and the situation of new buying pressure entering.

The above content is for reference only and does not constitute investment advice.