$SNXXB is down 19.71% over the rolling 24-hour period, with the current price at 3.87 USDT. Its price has ranged between 2.99 and 4.86 USDT over the past 24 hours. That’s a considerable drop.
However, the most recent completed 1-hour candlestick is up 4.12%, rising from 3.64 to 3.79 USDT. Trading volume for that hour was about 311,800 USDT, 131.45% higher than the 134,700 USDT recorded in the previous hour. Higher trading volume only indicates that trading was more active during this period; it doesn’t show that buying pressure was dominant. The 24-hour period is down, while the latest 1-hour candlestick is up. The two time windows are moving in opposite directions, so this shouldn’t be called a trend reversal.
What concerns me more is whether the additional trading volume during this hour came from new money changing hands or from traders exchanging positions during the decline. These figures alone aren’t enough to tell.
However, the most recent completed 1-hour candlestick is up 4.12%, rising from 3.64 to 3.79 USDT. Trading volume for that hour was about 311,800 USDT, 131.45% higher than the 134,700 USDT recorded in the previous hour. Higher trading volume only indicates that trading was more active during this period; it doesn’t show that buying pressure was dominant. The 24-hour period is down, while the latest 1-hour candlestick is up. The two time windows are moving in opposite directions, so this shouldn’t be called a trend reversal.
What concerns me more is whether the additional trading volume during this hour came from new money changing hands or from traders exchanging positions during the decline. These figures alone aren’t enough to tell.