Volume is a leading indicator of price. The $FRAX 1-hour volume ratio was 66.5, with $5.69 million in trading volume and a price change of -2.95%.
A surge in volume during a sell-off is a reason not to rush into buying the dip. Wait for volume to subside and stabilize first.
Once a key level is broken, it often turns into resistance.

Make your own decisions about buying and selling; don't follow the crowd.