Looking at the recent 15-minute K-line for WAL/USDT, one obvious phenomenon is that the price is rebounding, but the trading volume is not keeping up. It rebounded from the 24-hour low of 0.1403 to 0.1436, which sounds good, but the volume is only 41,279.5—far below the 5-day average volume of 64,091.3 and even more below the 10-day average volume of 137,773.3. Market activity is at a recent low, with retail investors and institutions both on the sidelines.

What’s the most heartbreaking? This rebound has no volume support. It’s a typical shrinking volume rebound pattern, indicating that this is not large capital actively entering but rather some short-term bottom-fishing funds playing a game. The bulls’ capacity to absorb selling is limited, and it’s uncertain when they might lose strength. In comparison, during the previous decline phase, there was a “volume-down decline,” with large amounts of chips selling off, which laid the groundwork for the current insufficient volume.

The volume bars have also narrowed significantly, much narrower than during the initial decline. This indicates that the market has shifted from panic to caution, with both bulls and bears waiting for signals, and neither wants to be the first to step out. What’s next? Two scenarios: if the price wants to break through the MA99 resistance at 0.1460, it must show signs of effective volume expansion, at least surpassing the 5-day average volume. Otherwise, if volume remains sluggish, the price is likely to hover within the current range and then fall back to test the support zone at 0.1403-0.1420.