BOSS Wallet data source, Avalanche today's market news, latest AVAX price: $49.62, 24-hour increase of 11.03%, trading volume $2.822 billion

According to the analysis of the candlestick chart, it is currently in a consolidation trend. Compared to 18:00, it has risen significantly, rebounded from 11:00, and declined from 15:00. When the price rises but trading volume decreases, it usually indicates that the upward momentum of the market is weakening and the number of buyers is decreasing.
This phenomenon of volume-price divergence is usually caused by a lack of selling pressure. In this context, future prices may experience a pullback or sideways consolidation due to the lack of support from trading volume, making it difficult for prices to sustain their rise. Investors should be alert to the risk of price retreats at high levels and pay attention to whether trading volume can keep up with the price increase, as well as whether new buying interest comes in.
Market activity is low and momentum is weakening. The Williams indicator shows that it is currently in a phase without overbought or oversold conditions. Recently, trading volume has decreased, with trading volume lower than in the previous hours, price rising, and trading volume decreasing: upward momentum is weakening.

Upward momentum is weakening, it is recommended to remain cautious, pay attention to volume-price changes 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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