“A slow decline on shrinking volume” is emerging (bullish momentum is fading):
Compare the volume (VOL) bars below: trading volume during the rebound and sideways movement over the past few days is clearly lower than during the previous sharp drop.
This is a very dangerous “low-volume rebound” signal. It suggests that around 2,500, there hasn’t been a significant influx of new money trying to buy the dip. Bulls are only just managing to keep the market afloat, and if bears regain momentum, prices could easily continue falling in search of support.$ETH
Compare the volume (VOL) bars below: trading volume during the rebound and sideways movement over the past few days is clearly lower than during the previous sharp drop.
This is a very dangerous “low-volume rebound” signal. It suggests that around 2,500, there hasn’t been a significant influx of new money trying to buy the dip. Bulls are only just managing to keep the market afloat, and if bears regain momentum, prices could easily continue falling in search of support.$ETH