BOSS Wallet data source, Polkadot (DOT) current market news, the latest price of DOT: $7.029, 24-hour drop -5.524%, trading volume $310 million

According to the candlestick chart analysis, it is currently in a fluctuating trend. Slightly up compared to 20:00, slightly down compared to 19:00, rebounding compared to 17:00, and decreasing compared to 16:00. Price is rising but trading volume is decreasing, which typically indicates weakening upward momentum in the market and a reduction in the number of buyers.
The price increase may be due to a lack of selling pressure, considered as 'upward movement without volume'. In this case, future prices may experience a pullback or sideways consolidation. Due to the lack of trading volume support, price increases may be difficult to sustain, and one should be cautious of the risk of price retreating from high levels.
Investors should pay attention to whether trading volume can keep up with price increases and whether there is new buying interest. Trading volume decreases while price rises. The Williams indicator shows that the current market state is neither overbought nor oversold. Recently, trading volume has decreased, with trading volume lower than in previous hours and price rising while trading volume is declining: upward momentum is weakening.

With weakening upward momentum, it is recommended to wait and observe, focusing on trading volume and new buying interest, while being cautious of the risk of price pullback.

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