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Conversely, recent trading volume has increased significantly, with over $2 million to $7 million in daily volume on centralized exchanges like Gate.io. The substantial volume suggests renewed interest and activity, which could support a short-term rally if buying momentum continues.
Technical Chart Analysis
On the technical front, the speaker examines the weekly and daily charts. The RSI (Relative Strength Index) on the weekly timeframe is at a low level, hinting at an oversold condition and potential for upward movement. A divergence indicator also hints that the recent peak has more than likely been reached, signaling a possible bottom.