BOSS Wallet data source, Filecoin today's price trend, the latest FIL price has broken through to $7.207, an increase of 2.04%, trading volume $858 million

After analyzing the candlestick chart, it is found that it is currently in a volatile trend. Compared to 17:00, it has increased significantly, has rebounded compared to 10:00, and has decreased compared to 12:00. The price is rising but trading volume is decreasing, which usually indicates that the market's upward momentum is weakening and the number of buyers is decreasing.
The price increase may be due to a lack of selling pressure, which is considered 'upward movement without volume.' In this case, future prices may experience a pullback or sideways consolidation. Due to the lack of trading volume support, the price increase may be difficult to sustain, and caution should be exercised regarding the risk of price retracement at high levels.
Investors should pay attention to whether trading volume can keep up with price increases and whether there is new buying interest. In a volatile trend, trading volume decreases while prices rise. According to the Williams indicator, the current market is overbought. Recently, trading volume has decreased, trading volume is lower than in previous hours, with prices rising and trading volume falling: upward momentum is weakening.

The market is overbought, upward momentum is weakening, it is recommended to remain on the sidelines and pay attention to changes in trading volume and the situation of new buying interest.

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