Source of BOSS Wallet data, real-time price of Cardano. The latest price of ADA today is $0.7287, up 2.00%, with a transaction volume of $1.956 billion.
From the analysis of the K-line chart, it is currently in an upward trend. It has risen significantly compared to 22:00, rebounded compared to 20:00, and broke through the high point of 23:00. When prices rise but trading volume decreases, it usually means that the market's upward momentum is weakening and the number of buyers is decreasing.
This phenomenon of volume-price divergence is usually caused by a lack of selling. In this context, prices may experience a correction or sideways movement in the future, as the price increase is difficult to sustain due to the lack of trading volume support. Investors should be wary of the risk of a price decline at a high level, and pay attention to whether the trading volume can keep up with the price increase and whether there is new buying intervention.
The market is quiet and the price is going up. According to the Williams indicator, it is not overbought or oversold. The trading volume has decreased recently, and the trading volume is less than the previous few hours. The price is rising and the trading volume is falling: the upward momentum is weakening.
The market's upward momentum has weakened, so it is recommended to enter the market cautiously and observe subsequent trading volume and price changes.
The above content is for reference only and does not constitute investment advice.