BOSS Wallet data source, real-time price of Polkadot (DOT), the latest price of DOT today is $8.945, with an increase of 3.51%, trading volume of $1.17 billion

Analyzing through candlestick charts, it is currently in a volatile trend. Compared to 11:00, there is a significant increase, a recovery from 08:00, and a breakthrough of the 12:00 high. The price is rising but the trading volume is decreasing, which usually indicates a weakening upward momentum in the market and a decrease in the number of buyers.
The price increase may be due to a lack of selling pressure, which is considered a 'volume-less rise'. In this case, the future price may experience a correction or sideways consolidation. Due to the lack of trading volume support, the price increase may be difficult to sustain, and there is a risk of price pullback at high levels.
Investors should pay attention to whether the trading volume can keep up with the price increase and whether new buying interest comes in. The market activity is low, and momentum is weakening. According to the Williams indicator, it is currently neither overbought nor oversold. Recently, trading volume has decreased, with a reduction in trading volume compared to the previous hours, and the price is rising while the trading volume is decreasing: upward momentum is weakening.

Upward momentum is weakening, it is advisable to remain cautious, monitor changes in trading volume, and wait for market sentiment to recover.

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