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

After studying the candlestick chart, it is currently in a consolidation trend. Compared to 18:00, there has been a significant rise, a recovery compared to 11:00, and a decline compared to 15:00. The price is rising but 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, known as 'volume-less rise'. In this case, future prices may experience a pullback or sideways consolidation. Due to the lack of support from trading volume, the price rise may be hard to sustain, and one should be cautious of the risk of price retreating at high levels.
Investors should pay attention to whether trading volume can keep up with the price rise 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 no overbought or oversold conditions. Recently, trading volume has decreased, with trading volume down compared to a few hours ago, while the price rises and trading volume decreases: upward momentum is weakening.

Market upward momentum is weakening, it is recommended to operate cautiously, pay attention to 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.

#AVAX