Volume and price are intrinsically linked. Traditional crypto coin knowledge is volume drives price.
When I look at it though I always also see volume on the dumps so Im not sure its the only measure you should use.
Dump volume had more volume on the shorter time frame as they broke significant support (thus higher volume shows signs that this break out will be valide). Nonetheless, volume on the uptrend were much higher as you they were characterizing a strong emotion (FOMO). In a continued down trend, volume doesn't need to be that high to validate the bearish scenario (fear is a slow increasing feeling, usually downtrend ends on what is called "capitulation", point at which you'll see exponentially rising volume on a short amount of time, fear is here at is paroxysm).
Thanks. I have been looking at these and trying to understand Monero price movements. My generalizations shows trends but then there are strong movements against it, which proves that my hypothesis is far from valid. I think I have to add more factors to it for better understanding. Do SMAs and EMAs help reveal trends?