BOSS Wallet data source, Avalanche today's price trend, AVAX latest price has surged to $50.61, an increase of 3.54%, trading volume $2.894 billion

After studying the candlestick chart, it is currently in a volatile trend. Compared to 18:00, there has been a significant increase, a recovery from 11:00, and a decline from 15:00. The price is rising but the trading volume is decreasing, which usually 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 a 'volume-less increase'. In this case, the future price may experience a pullback or sideways consolidation. Due to the lack of trading volume support, it may be difficult for the price increase to sustain, and one should be aware of the risk of price retreating at high levels.
Investors should pay attention to whether the trading volume can keep up with the price increase and whether there is new buying interest. Market activity is low and momentum is weakening. According to the Williams indicator, it is currently in a state of neither overbought nor oversold. Recently, trading volume has decreased, with the volume down compared to the previous hours, price rising, and volume declining: upward momentum is weakening.

Market upward momentum is weakening, it is advisable to operate cautiously, monitor trading volume and new buying interest, and wait for market sentiment to recover.

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

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