Volume is the amount of asset being bought or sold at the current price during each trading session or candle. When volumes are surging, it means the asset is highly attractive to traders, and more volatile price action is expected.
When trends are waning, and volatility is declining, volume often decreases as a result of the lack of interest and profitable trading opportunities. However, when a breakout of a pattern or trend is confirmed with substantial volume, a return to surging volume and volatility usually returns to the previously stagnant asset.
Due to this, volume analysis can be an essential tool, and watching for volume to support breakout confirmations can lead to a highly successful trade.