BOSS Wallet data source, Optimism today's market news, OP latest price: $1.873, 24-hour increase 3.825%, trading volume $291 million

By analyzing the candlestick chart, it is currently a volatile trend. Compared to 11:00, there has been a significant increase, a recovery from 04:00, and a breakthrough of the high point at 09:00. When the price rises but trading volume decreases, it usually indicates that the market's upward momentum is weakening, with a reduction in the number of buyers.
This phenomenon of divergence between volume and price is usually caused by a lack of selling pressure. In this context, future prices may experience a pullback or sideways consolidation, as the lack of volume support makes it difficult for prices to continue rising. Investors should be wary of the risk of price retreating from high levels and pay attention to whether trading volume can keep up with the price increase, as well as whether new buying interest emerges.
In a volatile trend, trading volume decreases while prices rise. According to the Williams indicator, the current market is overbought. Recent trading volume has decreased, with volume dropping compared to the previous hours, and prices rising while volume declines: upward momentum is weakening.

The market is overbought, and upward momentum is weakening. It is recommended to maintain a wait-and-see approach and be cautious of the risk of price pullbacks.

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